china factory gate inflation slows to 13month low
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

China factory gate inflation slows to 13-month low

Arab Today, arab today

Arab Today, arab today China factory gate inflation slows to 13-month low

China factory gate inflation slows to 13-month low
Beijing - Arab Today

China’s producer price inflation slowed to a four-month low in November as factory activity softened due to the government’s ongoing efforts to curb pollution, cooling demand from factories for raw materials.Producer prices rose 5.8 percent from a year earlier - the lowest since July, the National Bureau of Statistics said on Saturday. The rise was slightly less than market expectations and compared with the previous month’s 6.9 percent increase.

Analysts polled by Reuters had predicted the PPI in November would rise an annual 5.9 percent, easing back also because of a high base a year earlier.

“The environmental protection drive could affect production of middle- and low-stream firms, easing demand for raw materials,” said Wen Bin, an economist at Minsheng Bank in Beijing.

“Looking ahead, producer price inflation is likely to slow steadily due partly to the high base effect.”

On a month-on-month basis, the PPI rose 0.5 percent in November.


As northern China officially entered the heating season in mid-November, the government has stepped up efforts to address winter smog, ordering many steel mills, smelters and factories to curtail or halt production to rein in pollution.

Analysts expect producer price pressures to recede as the war on smog curtails production, cooling demand from factories for raw materials.

Raw materials prices rose 7.5 percent in November year-on-year, compared with 9 percent in October, data from the statistics bureau showed.

However, production curbs at factories have triggered fears of supply shortages, giving a major boost to iron ore and steel futures prices. Shanghai steel futures SRBcv1 rose 9.7 percent in November, while iron ore prices DCIOcv1 surged 16.5 percent over the month.

In particular, the government’s plan ordering millions of households in northern China to convert to gas heating from coal this year caused an unexpected shortage in natural gas supplies as prices soared despite a record amount of natural gas imports in November.

Oil and natural gas prices jumped 20.3 percent year-on-year in November, compared with a 16.5 percent rise in October, the bureau’s data showed.

Coal mining and processing prices rose 8.6 percent from a year earlier, compared with a 19.7 percent rise in October.

The latest anti-pollution measures come on top of ongoing government efforts to trim down and upgrade the country’s bloated industrial sector by shutting outdated capacity, which has also helped support producer prices.

CONSUMER PRICES SOFTEN
China’s consumer inflation, which has stayed well within Beijing’s 2017 target of 3 percent this year, also slowed more than expected in November to 1.7 percent from 1.9 percent previously, as food prices fell.

Non-food price inflation quickened to 2.5 percent in November from 2.4 percent in October.

The consumer price index (CPI) had been expected to edge down to 1.8 percent on-year compared with an increase of 1.9 percent in October.

The world’s second-biggest economy has defied market expectations with economic growth of 6.9 percent in the first nine months of the year, supported by a construction boom and robust exports.

But factory activity has shown signs of cooling in the past few months as Beijing extended a crackdown on financial risks, which has increased borrowing costs and weighed on new investment.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china factory gate inflation slows to 13month low china factory gate inflation slows to 13month low

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china factory gate inflation slows to 13month low china factory gate inflation slows to 13month low

 



GMT 10:47 2018 Wednesday ,10 October

Egypt can generate up to 53% of power sources by 2050

GMT 02:21 2018 Thursday ,11 January

S. Korea's Moon willing to hold summit

GMT 00:37 2018 Tuesday ,09 January

Homeless clampdown sparks UK royal wedding row

GMT 15:38 2017 Monday ,25 December

Pakistan condemns missile attack on Saudi Arabia

GMT 03:22 2011 Thursday ,17 March

Life on the cheap in the City of London

GMT 17:40 2017 Sunday ,17 December

26 dead from landslides after Philippine storm

GMT 17:57 2017 Thursday ,27 April

Jordanian Foreign Minister Meets Qatar's Ambassador

GMT 08:48 2016 Thursday ,01 September

For 2018 and 2022 World Cups

GMT 04:39 2017 Thursday ,14 December

Climate commitments at the 'One Planet Summit'

GMT 00:29 2017 Thursday ,14 December

Kabul mosque hit by deadly suicide bomb attack

GMT 03:08 2017 Tuesday ,05 September

May22nd-June21st

GMT 09:43 2017 Tuesday ,14 November

Football: FIFA bribery trial to kick off in New York

GMT 09:11 2017 Sunday ,03 September

Saudi special force provides services for pilgrims

GMT 21:53 2017 Monday ,23 October

Al Tayer receives Chairman of Department of Energy

GMT 12:17 2016 Thursday ,01 December

Wants to be 'good example'

GMT 19:25 2017 Saturday ,25 March

Fatima Bogo participate in Moroccan-French series

GMT 21:52 2017 Wednesday ,06 December

HRH Premier thanked by Singaporean PM

GMT 01:36 2017 Wednesday ,06 December

Kertajati airport to be operational in 2018
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday