Chinese customers data showed the country's exports unexpectedly fell in August, pointing to further weakness in the world's second-largest economy.
, pointing to further weakness in the world's second-largest economy. August exports fell 1% on-year, customs data showed Sunday, while analysts had predicted a 2% rise according to a Reuters poll.
Shipments from China to the United States slowed sharply as the countries are engaged in a protracted trade fight. Beijing and Washington have levied tariffs on billions of dollars worth of each other's goods, which, analysts say,The data miss now raises expectations that Beijing may introduce more stimulus measures to prop up its economy. The People's Bank of China announced Friday that it was.
"Looking ahead, we expect China's export outlook to remain gloomy," Louis Kuijs, head of Asia economics at Oxford Economics, wrote in a Sunday note. "The additional tariffs imposed by the US on 1 September and those scheduled for October 1 will further dampen export growth momentum." "In our view, more significant steps are needed if policymakers want to stabilize growth next year at around 5.7%, which we think they do. In this setting we expect more visible improvements in imports further down the road," Kuijs added.fell short of expectations, with the figure increasing by just 130,000 in August. That was short of Wall Street estimates for a 150,000 rise. Still, wage growth remained solid, with average hourly earnings increasing by 0.4% for the month and 3.
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