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China exports fall short of economists' forecasts
来源:https://www.shippingazette.com/ 编辑:编辑部 发布:2024/10/23 08:45:24
CHINESE export growth slowed in September while imports also unexpectedly decelerated, undershooting forecasts by large margins and suggesting manufacturers are slashing prices to move inventory ahead of tariffs from several trade partners, reports Reuters.
Exports grew 2.4 per cent year on year last month, the slowest pace since April, customs data showed, missing a forecast six per cent increase in a Reuters poll of economists and a 8.7 per cent rise in August.
Export momentum had been one bright spot for the Chinese economy that has struggled to gain traction due to weak domestic demand and a property market debt crisis, adding to the urgency for stronger stimulus.
Imports edged up 0.3 per cent, missing expectations for a 0.9 per cent rise and softer than 0.5 per cent growth previously. The weak data does not bode well for exports in coming months as just under a third of China's purchases are parts for re-export, particularly in the electronics sector.