Exports from China fell in August as an intensifying trade dispute with the US took a heavier than expected toll on the country’s manufacturing sector, said the Financial Times.
China’s exports decreased 1% last month compared with a year earlier, according to the customs administration. The decline compares with a 3.3% rise in exports year-on-year in July.
Goldman Sachs had forecast that there would be a 2% increase in exports in August because it expected buyers of Chinese goods to “front-load” orders before a new round of US tariffs kicked in on September 1. The decline in exports was accompanied by a 5.6% drop in imports in August, unchanged from July.