China’s consumer inflation rises, producer prices fall in March
However, China’s March producer price index (PPI) dropped by 4.3% in March, according to NBS’s data. March’s index figure came in above estimations calling for a 4.6% decline, though still indicating a decline for four full years. The fall was attributed to lower commodity prices as well as overcapacity in several industrial sectors.
Meanwhile, an official manufacturing purchasing managers’ index (PMI )released by the NBS showed that the country’s manufacturing expanded for the first time in nine months in March, increasing to a reading of 50.2 in March from a reading of 49 in February. Any reading above 50 indicates an expansion while any reading below 50 indicates a contraction.
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