BEIJING : China's exports likely contracted further in July, as manufacturers in the world's second-largest economy struggled for buyers in markets grappling with high inflation and rising interest rates, a Reuters poll showed on Monday.Data for July are expected to show a 12.5 per cent fall in outbound s
BEIJING : China's exports likely contracted further in July, as manufacturers in the world's second-largest economy struggled for buyers in markets grappling with high inflation and rising interest rates, a Reuters poll showed on Monday.
That would be the worst reading since the early days of the pandemic in February 2020, when exports fell an annual 17.2 per cent, as strict COVID curbs and lockdowns across the country resulted in workers laying down their tools. China's state planner hinted of stimulus over three press conferences convened last week, but investors were underwhelmed by proposals to expand consumption in the automobile, real estate and services sectors as well as extend loan support tools for small and medium-sized enterprises until the end of 2024.
Imports are expected to have shrunk by 5.0 per cent, after a fall of 6.8 per cent in June, reflecting slightly improved domestic demand.
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