Sumary of Wholesale prices climb more than expected:
- Factory prices in China climbed further in March, growing at the fastest pace in more than two years, official data showed on Friday — backed by a rise in commodity prices and the country’s economic recovery from Covid-19..
- including those of crude oil and iron ore, and boosted by an “increase in domestic industrial production and investment demand”, said NBS senior statistician Dong Lijuan..
- Analysts had expected the rise in PPI given the low base of comparison last year, when lockdowns and strict movement controls to stamp out Covid-19 — which first emerged in a central Chinese city — dragged economic activity..
- But the economy has since bounced back after China brought the virus outbreak largely under control, with leaders setting a 2021 growth target of above six percent and a mass vaccination campaign underway….