China slides into deflation as consumer, factory prices drop
Wednesday, 9 August 2023 China's consumer and producer prices both declined in July, the first time since November 2020 that both have registered contractions. The consumer price index dropped 0.3% YoY, while producer prices contracted 4.4%, with subdued consumer spending, a slump in the Chinese property market, plunging exports and weakened demand all contributing.
For the first time since 2021, both consumer and producer prices have contracted in China, a telltale sign of deflation as demand weakens in the world's second-largest economy. Producer prices fell for a 10th consecutive month, contracting 4.4% in July from a year earlier, slightly worse...
Saudi Arabia , Extends Production Cuts , in Bid to Boost Prices .
On August 3, Saudi Arabia said that it will extend
unilateral production cuts of one million barrels
of oil a day in an effort to..
Credit: Wibbitz Top Stories Duration: 01:31Published
Wednesday, 9 August 2023
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