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China’s PPI Contracts in August, Steepest Decline in Three Years

According to data released by the National Bureau of Statistics, China’s PPI slid lower to -0.8% YoY in August from -0.3% in July. This has been the worst YoY contraction seen in factory gate prices in three years.

Producer price index (PPI) is a key indicator for corporate profits and reveals further strain in the Chinese manufacturing sector over the prolonged trade tensions with the US. The figure has come in better than economists’ forecast, which was for a reading of -0.9%.

Following the release of this news, the Chinese yuan had fallen sharply against the US dollar but has recovered slightly since then. At the time of writing, USD/CNH is trading at around 7.114.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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