China's easing factory gate prices hint at broader economic slowdown
Beijing
CHINA'S producer price inflation eased for the third straight month in May on tumbling prices of raw materials, signalling a broader cooling in economic activity as profits are squeezed by slackening domestic demand and rising financing costs.
Moderating factory gate inflation in the world's second-biggest economy could be a further worry for global central banks such as the US Federal Reserve and European Central Bank, which are puzzling over why domestic prices have remained sluggish despite improving economic growth.
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