China's July producer price inflation slows to 3.5% 3-month low
Business
China's producer price inflation slowed to 3.5% in July, the lowest in three months and below what experts predicted.
This drop is thanks to cheaper global energy, despite the U.S.-Iran war.
Basically, producer price inflation slowed, but it's not all good news.
China speeds infrastructure spending for manufacturers
Even though factories are busy and exports are holding up, people in China aren't buying as much at home.
Other signals, like a weak PMI, show the economy is losing steam.
To keep things moving, China's government is speeding up spending on infrastructure projects through year-end to help manufacturers who are feeling squeezed by high costs and lower demand.