China's July factory price growth quickens

The world's second-biggest economy is on track to expand more than 8% this year.

BEIJING: China's factory gate inflation in July rose at a faster clip from the previous month and exceeded market expectations, adding to strains on an economy losing recovery momentum as businesses struggle with high raw material costs.

The world's second-biggest economy is on track to expand more than 8% this year but analysts say pent-up coronavirus demand has peaked and forecast growth to moderate amid supply chain bottle necks and outbreaks of the Delta variant of COVID-19.