September inflation data from China
China CPI +1.7% y/y
expected 1.9% y/y, prior 2.4%
PPI -2.1% y/y
expected -1.8% y/y, prior -2.0%
The PPI, negative, weighs on business profitability and in turn future capex. Little wonder the PBOC is keeping policy very loose indeed, injecting further cash today.
