Chinese export growth slowed in August, official data showed Friday, missing forecasts expectations as weak global demand weighs on the world's second largest economy.
Exports rose 5.5 percent year-on-year, the customs administration said, down from a 7.2 percent increase in the previous month and missing a Bloomberg News forecast of 6.0 percent.
"There appears to have been a broader decline in external demand," Julian Evans-Pritchard of Capital Economics said in a note.
Imports climbed 13.3 percent beating an expected increase of 10.0 percent, and leaving a $42.0 billion trade surplus for the month. Imports rose 11 percent in July.
The trade figures come among mixed signals for the Chinese economy. Factory activity accelerated in August, but inflation remained steady in July, fuelling concerns of further slowdown caused by domestic policy tightening.
Chinese export growth slowed in August, official data showed Friday, missing forecasts expectations as weak global demand weighs on the world’s second largest economy.
Exports rose 5.5 percent year-on-year, the customs administration said, down from a 7.2 percent increase in the previous month and missing a Bloomberg News forecast of 6.0 percent.
“There appears to have been a broader decline in external demand,” Julian Evans-Pritchard of Capital Economics said in a note.
Imports climbed 13.3 percent beating an expected increase of 10.0 percent, and leaving a $42.0 billion trade surplus for the month. Imports rose 11 percent in July.
The trade figures come among mixed signals for the Chinese economy. Factory activity accelerated in August, but inflation remained steady in July, fuelling concerns of further slowdown caused by domestic policy tightening.
