China's producer price index rose 3.8% YoY in August, up 0.3 percentage points
from July, the National Bureau of Statistics said. Biggest upward contributors
were coal mining and washing (+26.6%), non-ferrous metal smelting and rolling
(+20.8%), oil and gas extraction (+10.5%), petroleum, coal and other fuel
processing (+11.1%), manufacture of chemical raw materials and chemical products
(+9.1%), electrical machinery and equipment manufacturing (+5.9%) and computer,
communication and other electronic equipment manufacturing (+5.3%); those seven
sectors added about 4.24 percentage points to PPI YoY, 0.37ppt more than last
month. Largest downward contributors were electricity and heat production and
supply, automobile manufacturing, non-metallic mineral products, pharmaceutical
manufacturing, beverage and refined tea manufacturing, and agricultural and
sideline food processing, which fell 1.7%–5.3% and together subtracted about
0.74 percentage points from PPI YoY.
