Space Travel News  
TRADE WARS
China factory prices rise as industries recover from pandemic
by AFP Staff Writers
Beijing (AFP) March 10, 2021

Factory prices in China rose in February at the fastest pace in more than two years, official data showed Wednesday, as the country's vast industrial sector recovered from a coronavirus-induced slump.

The producer price index (PPI), which measures the cost of goods at the factory gate, rose 1.7 percent last month according to data from the National Bureau of Statistics, exceeding analysts' expectations.

China's PPI had risen for the first time in a year in January, and February's rate was the fastest since November 2018.

Analysts expect an increase in global commodity prices to lift inflation further in the world's second-largest economy in the coming months.

NBS senior statistician Dong Lijuan said prices for petroleum-related industries continued to rise due to the sustained "upward trend of international crude oil prices".

Dong added there was a rise in domestic demand and continued growth in international metal commodity prices as well, pushing up prices in metals industries.

"Manufacturing input costs have also been pushed higher by rising prices for electronics components, particularly semiconductors, as well as factors such as rising shipping costs due to container shortages," IHS Markit Asia-Pacific chief economist Rajiv Biswas told AFP.

Consumer prices, on the other hand, fell 0.2 percent in February, slightly less than analysts expected, dragged partly by food prices.

Pork prices were 14.9 percent lower than in the same period last year, when the cost of the staple meat soared after China's herds were ravaged by African swine fever.

But it is unlikely the recent period of consumer price deflation will persist, said Capital Economics senior China economist Julian Evans-Pritchard, who added that the drop in food inflation was caused by shifts in timing of the Lunar New Year.

China's economy is set for a strong comeback this year, with Beijing setting a modest growth target of above six percent and analysts predicting a higher figure.

Consumer inflation is also expected to increase given the government's target of a three percent rise for 2021.

Nomura chief China economist Lu Ting said that mass vaccine rollouts across the world and fiscal stimulus programmes in many developed economies with low interest rates meant commodity prices could rise further in the next few months.

"China is heavily dependent upon energy and commodity imports, so a surge in the prices of these products will have a material impact on China's inflation, especially PPI inflation," Lu warned in a market note.

bys/rox/qan

IHS Global Insight

MARKIT


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
China says wants economy to grow over 6% in 2021
Beijing (AFP) March 5, 2021
China's leaders said Friday they had set a target for GDP to grow more than six percent this year, as the world's second largest economy surges out of a pandemic-induced slump. The global growth powerhouse stuttered in 2020, logging its slowest expansion in four decades as strict virus containment measures at home collided with a freeze in international trade. The slowdown raised doubts about the Communist Party's ability to deliver on its pledge of continued prosperity in return for unquestione ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
TRADE WARS
NASA Awards Mars Ascent Propulsion System Contract for Sample Return

China's Tianwen-1 probe to land on Mars in May or June

Planetary science intern leads study of Martian crust

China shows first high-def pictures of Mars taken by Tianwen 1

TRADE WARS
China's Chang'e 4 lander and rover resume work for 28th lunar day

Lockheed Martin And NEC Put AI To Work On Programs Like NASA's Artemis Mission

NASA, Navy test diving technology that could be used on the moon

Canada to join US mission to moon

TRADE WARS
SwRI scientists image a bright meteoroid explosion in Jupiter's atmosphere

Solar system's most distant planetoid confirmed

Peering at the Surface of a Nearby Moon

A Hot Spot on Jupiter

TRADE WARS
Three elder sisters of the Sun with planets

Microbes deep beneath seafloor survive on byproducts of radioactive process

Big galaxies steal star-forming gas from their smaller neighbours

The Milky Way may be swarming with planets with oceans and continents like here on Earth

TRADE WARS
SpaceX successfully launches 20th Starlink mission

Green Run Update: Engineers Repair Valve for Mid-March Hot Fire Test

China's 1st reusable rocket on way, says expert

China's commercial rocket SD-3 to make maiden flight in 2022

TRADE WARS
China has over 300 satellites in orbit

China explores space with self-reliance, open mind

China begins assembly of Long March 5B to launch space station core

Xi lauds China's progress in space missions

TRADE WARS
Comet makes a pit stop near Jupiter's asteroids

Meteorites remember conditions of stellar explosions

Asteroid dust found in crater closes case of dinosaur extinction

How were the trojan asteroids discovered and named









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.