中国生産物価指数 下降幅度繼續拡大

A few weeks ago the NHK News on-line reported the following:

中国の生産者物価指数 下落幅拡大続く

12月10日 15時26分

中国では、企業が製品を出荷する際の値動きを示す指数が、先月は去年の同じ月に比べて２．７％の下落と、４か月連続で下落幅が拡大し、不動産市況の低迷などを背景に、中国の内需が力強さを欠いているという見方が広がっています。

中国の国家統計局の発表によりますと、企業が製品を出荷する際の値動きを示す先月の生産者物価指数は、去年の同じ月に比べて２．７％の下落となり、下落幅は前の月より０．５ポイント拡大しました。
下落幅の拡大は４か月連続で、１年５か月ぶりの大きな落ち込みとなっています。
これは、不動産市況の低迷を背景に、鉄鋼やセメントなどの販売が振るわないなか、供給が需要を上回る状況が続き、鉄鉱石などの原材料を含む幅広い分野で取り引き価格が落ち込んだことなどによるものです。
一方、先月の消費者物価指数は、原油価格の下落でガソリンがさらに値下がりしたことなどから、去年の同じ月に比べて１．４％の上昇にとどまり、上昇幅は５年ぶりの低い水準となりました。
中国政府は、景気が減速傾向にあるなか、住宅ローンの融資条件の緩和を銀行に促したり、中央銀行が政策金利を引き下げたりするなど、景気の下支え策を打ち出していますが、物価の下落圧力は強まっていて、中国の内需は依然、力強さを欠いているという見方が広がっています。

(試譯文)

In China last month (December) the index that indicated price movements when the enterprise shipped out a product, compared with same month last year showed a decrease of 2.7%; the scope of going down increased continuously for 4 months against the background of a sluggish real estate market condition. There was a widening view point in saying that the domestic demand in China was lacking the energy.

In China according to an announcement of the Office for National Statistics, last month’s producer price index which indicated price movements when an enterprise shipped out a product had fallen by 2.7% compared with same month last year, and the scope of going down increased by 0.5 point compared with the previous month. 

The increase in the scope of going down was in succession for 4 months, and was a big contraction in 1 year 5 months.

This was against the background of a sluggish real estate market condition. While the sale of steel and cement was not sluggish, the supply continued to exceed demand. This was because the trading price went down in a wide range of fields that included raw materials such as iron ore.

On the other hand, about the consumer price index last month, amidst falling gas price due to a drop in oil price etc., it stood at a 1.4% increase. Compared with same month last year the scope of this increase was a 5-year low.

To the Chinese government, the business tended to slow down. There was an encouragement to relax financing conditions in giving out housing loans by banks. The central bank’s policy on rate was to reduce it, and a plan to support business conditions was proposed. But the falling pressure on prices was strengthening, and the view point was widening that the Chinese domestic demand was still lacking the strength.

It seems that the world’s economy is heading towards to a slowing down.