China’s industrial deflation worsened in May, with factory-gate prices falling at their fastest pace in more than four years as the coronavirus pandemic crushed global demand for commodities.

The country’s producer-price index dropped 3.7% in May from a year earlier, China’s National Bureau of Statistics said Wednesday. May’s fall was bigger than April’s 3.1% decline and slightly sharper than economists had expected.

Sluggish…

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