China’s factory gate prices accelerate on upbeat economic rebound
Factory gate prices in China accelerated above expectations in March, tallying the sharpest pace of growth since July 2018. The expansion was indicative of the country’s sustained economic recovery from the coronavirus pandemic.
China’s producer price index recorded a 4.4% increase, the National Bureau of Statistics said. The annualized reading came larger than the 3.5% forecast expected in a Reuters survey, placing higher than the 1.7% jump seen in February.
Consumer price index, on the other hand, recorded an annualized 0.4% increase in March. It also placed above expectations, and it returned to inflation after two consecutive months of contraction. While the latest figures underscored the country’s brisk emergence from the coronavirus pandemic, China’s economic outlook remained murky.