China’s deflationary pressures just aren’t going away, underscoring the fragility of the economic recovery as 2023 enters the home stretch.
Forecasts suggest a wide-ranging slowdown in the Asian economy including in its credit growth and trade. (Bloomberg) {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}}
Data due Thursday will likely show Chinese consumer prices slid back into deflation in October, according to economists surveyed by Bloomberg. Producer prices also probably declined for a 13th consecutive month.
Consumer costs have been stubbornly weak this year. The consumer price index slipped into deflation in July and has since been teetering on and off the edge of negative year-on-year growth. While the People’s Bank of China said in August that prices would rebound from the summer rough patch, another drop may prove that…
