(Yicai Global) Dec. 9 -- China's factory gate prices, a key indicator of corporate profitability, declined last month at the slowest pace in eight months amid a sustained economic recovery from the impact of the coronavirus pandemic.

The Producer Price Index slid 1.5 percent in November from a year ago, according to data the National Bureau of Statistics published today. That matched the rate of decline recorded in March. Twenty-four chief economists polled by Yicai Global expected an average 1.72 percent decline in November.

After a 3.7 percent drop in May, the steepest this year, the pace of decline has slowed. The PPI fell 2.1 percent in October.

Demand for industrial products continues to improve as industrial activity picked up swiftly last month, providing support for price recovery, the NBS said.

For the 11 months ended Nov. 30, the PPI fell 2 percent from a year earlier.

Editor: Emmi Laine