0857 GMT - China's stimulus has yet to provide a meaningful lift to private consumption and prices, UOB economists say after data showed a second year of subdued CPI inflation and PPI contraction in 2024. Food prices in recent months have been weaker than expected, despite a low comparison base, while demand for services and consumer goods stayed weak as the growth outlook softened, Ho Woei Chen says. UOB expects a slight improvement in 2025 as policymakers step up monetary and fiscal policy easing to boost domestic demand. It sees 2025 inflation at 0.9% and PPI deflation at -1.2% compared to 0.2% and -2.2% in 2024. China's 4Q GDP next Friday will likely show nominal growth, weighed down by weak prices, while posting a pickup in real GDP growth from 3Q. UOB pegs 2024 growth at 4.9%. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
January 09, 2025 03:57 ET (08:57 GMT)
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