BEIJING: China slipped back into deflation in October, data showed on Thursday, highlighting the work officials have in reviving still-sluggish demand in the world's No. The rise in imports could be a signal that domestic demand in China is recovering from months of weakness. The latest readings will likely put pressure on authorities to target consumer demand with fresh stimulus. Zhiwei Zhang, chief economist at Pinpoint Asset Management, said the data showed that "domestic demand remains sluggish." "With the budget deficit rising and the property developers ... gaining support from the government, domestic demand will likely improve next year," Zhang said.

Source: Manila Times November 10, 2023 04:14 UTC