In­fla­tion cools more than ex­pected

New Straits Times - - Business / World -

BEI­JING: China’s April pro­ducer price in­fla­tion cooled more than ex­pected in a sign man­u­fac­tur­ing ac­tiv­ity may be los­ing mo­men­tum along with other sec­tors of the econ­omy as do­mes­tic de­mand re­mains muted and the gov­ern­ment cracks down on fi­nan­cial risks.

Prices for raw ma­te­ri­als fell last month from the previous month, pres­sured by fears that do­mes­tic de­mand will not be strong enough to ab­sorb surg­ing fac­tory out­put that rose the most in more than two years in March.

A renaissance in China’s steel in­dus­try has been a ma­jor driver of the world’s sec­ond-largest econ­omy in re­cent quar­ters,

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