With Chinese growth already badly lagging expectations, markets will be focused on inflation readings that could provide a guide on domestic demand. On Thursday, investors will get two signals in the form of official consumer and producer price indices.
Consumer prices contracted again in December and are tipped to fall once more in January. Economists polled by Bloomberg are forecasting a year-on-year fall of 0.5 per cent, slightly higher than December’s fall of 0.3 per cent.
That average is also in line with a forecast from analysts at Citigroup, who have predicted the lateness of the lunar new year holiday will weigh on the figures. The major Chinese celebration falls on February 10, delaying demand for key foodstuffs.
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