China’s September exports fell 10% from a year earlier, far worse than expected, while imports unexpectedly shrank after picking up in August, suggesting signs of steadying in the world’s second-largest economy may be short-lived, Reuters reports. The disappointing trade figures pointed to weaker demand both at home and aboard, and deepened concerns over the latest depreciation in China’s yuan currency, which hit a fresh six-year low against a firming US dollar. Weaker demand for Chinese goods was seen in nearly all of its major markets in the US, Europe and much of Asia. Imports shrank 1.9%, dashing hopes for a second rise in a row. Imports had unexpectedly grown 1.5% in August. That left China with a trade surplus of $41.99 billion for the month, the lowest in six months.
Like this:
Like Loading...
