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China's factory-gate deflation eases in October, consumer prices rise
Consumer prices rose 0.2% in October, easing factory-gate deflation as government policies and holiday demand helped curb overcapacity and stimulate consumption.
- On Nov 9, data from the National Bureau of Statistics showed China's consumer price index rose 0.2% year on year while producer price deflation eased.
- Policy measures and holiday demand helped drive consumption amid efforts to curb overcapacity, with Premier Li Qiang urging the State Council to remove spending restrictions and develop new consumption drivers.
- Data showed producer prices fell 2.1% year on year in October, industrial profits rose more than 21% in September, while manufacturing activity contracted to its weakest in six months.
- Analysts warned that deflationary pressures persist, while Dong Lijuan, NBS statistician, said capacity management narrowed producer price declines; export headwinds may ease after the trade truce on Oct. 30.
- As the world's second-largest economy, China faces weak domestic demand and a prolonged housing downturn, but Xu Tianchen said `Demand remains weak but a rebound in CPI indicates that supply-side policies are having an effect, and the supply-demand balance in many industries is improving`.
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Coverage Details
Total News Sources36
Leaning Left7Leaning Right7Center4Last UpdatedBias Distribution39% Left, 39% Right
Bias Distribution
- 39% of the sources lean Left, 39% of the sources lean Right
39% Right
L 39%
C 22%
R 39%
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