China slipped back into deflation in October, data showed today, highlighting the work officials have in reviving still-sluggish demand in the world's second biggest economy.
, data showed today, highlighting the work officials have in reviving still-sluggish demand in the world's second biggest economy.
Today's reading was twice as big as expected in a Bloomberg survey and marked a return to deflation, having recovered marginally in September and August from July's 0.3% drop. A lack of demand can then force companies to cut production, freeze hiring or lay off workers, and agree to new discounts to sell off their stocks - dampening profitability even as costs remain the same.
The NBS also said producer prices sank for the 13th month in a row, tumbling 2.6%, compared to the 2.7% forecast in the Bloomberg survey, suggesting more weakness down the road.
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