Executive Briefings

China's Economy, Exports Continue Their Downward Slide

China's economic picture darkened in June as exports posted their biggest monthly drop since the recession.   The unexpectedly weak June data, reported by Chinese officials, suggests that the world's second-largest economy is still facing sluggish demand for its goods and could slow further than government and private forecasts.

China's Economy, Exports Continue Their Downward Slide

Chinese exports fell by 3.1 percent last month compared with a year ago, to about $174bn. It was the biggest decline since October 2009. Analysts on average were expecting an increase of about 4 percent.

The June exports volume was down an even bigger 7.4 percent compared with the previous month, seasonally adjusted, and it hasn't fallen that much since January 2009, said Capital Economics. Chinese exports to the European Union fell most sharply, down 8.3 percent. Shipments to the U.S. and Japan were off more than 5 percent.

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Chinese exports fell by 3.1 percent last month compared with a year ago, to about $174bn. It was the biggest decline since October 2009. Analysts on average were expecting an increase of about 4 percent.

The June exports volume was down an even bigger 7.4 percent compared with the previous month, seasonally adjusted, and it hasn't fallen that much since January 2009, said Capital Economics. Chinese exports to the European Union fell most sharply, down 8.3 percent. Shipments to the U.S. and Japan were off more than 5 percent.

Read Full Article

China's Economy, Exports Continue Their Downward Slide