FILE PHOTO: Staff sort fruits at a Walmart in Beijing, China, September 23, 2019. REUTERS/Tingshu Wang
The producer price index fell 2.1% from a year earlier, marking the eighth straight month of declines, the National Bureau of Statistics NBS) said in a statement. That compared with a 2.0% drop in August and expectations for a 1.8% decline in a Reuters poll.China’s economy has seen a steady recovery after a dismal first quarter when most of the country was shut down due to the COVID-19 pandemic. Factory activity expanded at a faster-than-expected rate in September.
NBS data also showed China consumer price index rose by 1.7% in September from a year earlier, its slowest increase since February 2019. Economists in a Reuters poll had expected the consumer price index to increase 1.8% after a 2.4% rise in August.
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