While the trade numbers beat expectations, they show China’s manufacturing sector remains under significant pressure. Read more at straitstimes.com.
BEIJING - China’s exports and imports fell in August, data showed on Thursday, as the twin pressures of sagging overseas demand and weak consumer spending squeezed businesses in the world’s second-largest economy.
Exports dropped 8.8 per cent in August year on year, customs data showed, beating a forecast of 9.2 per cent in a Reuters poll and off a 14.5 per cent drop in July. Meanwhile, imports contracted 7.3 per cent, slower than an expected 9 per cent decline and last month’s 12.4 per cent fall. “The figures suggest the headwinds remain, despite some marginal improvement,” said Zhou Hao, chief economist at Guotai Junan International. “Looking ahead, whether China’s trade growth has already hit the bottom will hinge on several factors, the most important of which is obviously domestic demand.”
But analysts warn the steps may have little impact with a labour market recovery slowing and household income expectations uncertain.
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