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CPI China up to 0.8% inflation hits five-year low since 2009 chinese economy in recession
Date: 2015-02-12 15:14:25    Published by: PENGLAI INDUSTRIAL CORPORATION
 

China's inflation plunged to 0.8 percent in January, its lowest level for more than five years, official data showed on Tuesday, heightening fears of deflation in the world's second-largest economy.
云南11选5专家预测推荐 The rise in the consumer price index (CPI) was sharply down from the 1.5 percent recorded in December, and was its weakest since November 2009 when it stood at 0.6 percent, according to figures provided by the National Bureau of Statistics.

Moderate inflation can be a boon to consumption as it encourages consumers to buy before prices go up, while falling prices encourage shoppers to delay purchases and companies to put off investment, both of which can hurt growth.

云南11选5专家预测推荐 The fall in CPI was driven by tumbling international crude prices and warmer January temperatures than average, causing vegetable, fruit and aquatic product prices to fall, senior NBS analyst Yu Qiumei said in a statement.



Separately, the producer price index (PPI) -- a measure of costs for goods at the factory gate and a leading indicator of the trend for CPI -- declined for the 35th straight month in January.
The 4.3 percent year-on-year PPI fall was the biggest since October 2009. The last time PPI rose was three years ago.

China January HSBC Final Manufacturing PMI at 49.7 Factory Activity Slips Into Contraction

China's manufacturing sector slipped into contraction in January, according to the latest data, another indication of a slowdown in the world's second largest economy.
The HSBC manufacturing purchasing managers index, a closely watched gauge of manufacturing activity, inched up to 49.7 for January, compared with 49.6 in December, HSBC said Monday. But it remains below the 50 level which separates contraction from expansion.
That comes one day after the Chinese government's official PMI dipped to 49.8 for January, the first reading below 50 since 2012.

"We think demand in the manufacturing sector remains weak and more aggressive monetary and fiscal easing measures will be needed to prevent another sharp slowdown in growth," said Hongbin Qu, HSBC's chief economist for China.

Markets took a hit, with an almost 2% drop in the Shanghai Composite Index in morning trading. China's currency, the yuan, also dropped to its lowest level against the U.S. dollar in eight months.

China's economic growth slowed to 7.4% in 2014, the slowest rate in more than 20 years. While still impressive by global standards, most experts think it would slip further this year.
"This is all part of the continual slowdown of the economy," said Larry Hu, an economist at Macquarie. The employment subindex of both PMIs indicated job-shedding continued in January, a particular concern for China's government.

China's economic data can be volatile in the first two months of the year, thanks to the influence of the Lunar New Year holiday, which falls on Feb. 19 this year. Migrant workers typically head home for the holiday, sometimes leaving early, and it is a common time for employers to hire and fire.

"If orders are good, factory owners may encourage workers to stay longer by giving them incentives," said Shen Jianguang, an economist at Mizuho Securities. "Now that orders are not that good, if you want to go home, you just go."

That makes it hard to foresee how the factory sector would hold up later in the year. It is possible that the continuing economic recovery in the U.S., China's biggest export market, could provide a boost for the country's factories, Mr. Hu said.

But monetary easing--cuts in the interest rate and banks" reserve requirements--could come as soon as March, Mr. Hu said. Responding to a weakening economy, China last cut interest rates in November.

 

china january hsbc final manufacturing pmi at 49.7 consecutive months factory activity slips into contraction,for more information about china world news visit site at http://youtube.com/user/videofilmfiles as well as business website at http://penglaichina.com

 

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