A man walks past the People's Bank of China (PBOC) building on July 20, 2023 in Beijing, China.
(Photo by Jiang Qiming/China News Service/VCG via Getty Images China News Service | China News Service | Getty ImagesAsia-Pacific markets were set to fall after producer prices in the U.S. grew faster than expected in February, coming in at 0.6% last month.
Excluding food and energy prices, core PPI climbed 0.3% in February.
Economists polled by Dow Jones had expected a 0.3% gain for headline PPI and a 0.2% increase for the core reading.
Investors in Asia will be watching out for any news from Japan's spring wage negotiations, with first estimates expected to come out later in the day.
Persons:
Jiang Qiming, Dow Jones
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People's Bank of China, China News Service, Getty Images China, Service, Getty, PPI, Nikkei, People's Bank of
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Beijing, China, Asia, Pacific, U.S, Chicago, Osaka, People's Bank of China, Australia