China in deflation as recovery falters

By Agence France-Presse

Aug 10, 2023 12:39 am

BEIJING: China slipped into deflation for the first time in more than two years in July, official data showed Wednesday, as slowing domestic spending weighs on the post-Covid economic recovery.

The reading comes a day after news that the country suffered its biggest fall in exports since the early days of the pandemic, while imports tanked again as domestic and global demand fall away.

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