China June Exports Seen Falling, Adding To Fears Of Global Slowdown: Reuters Poll

www.oann.com | 6/10/2019 | Staff
hoppers911 (Posted by) Level 4
BEIJING (Reuters) – China’s exports likely fell in June as weakening global demand and a sharp hike in U.S. tariffs took a heavier toll on the world’s largest trading nation, a Reuters poll showed.

Imports are expected to have fallen for a second straight month, pointing to continued weakness in domestic demand and highlighting the need for Beijing to roll out more economic support measures.

Friday - Trade - Data - Line - Downbeat

If Friday’s trade data are in line with the downbeat forecasts or worse, it could spark concerns about a sharper-than-expected slowdown in China and the risk of a global recession.

Neighboring South Korea last week slashed its export forecasts and cut this year’s economic growth target to what would be a seven-year low as the U.S.-China trade war drags on, weighing on global demand.

China - June - Exports - Percent - Year

China’s June exports are expected to have declined 2 percent from a year earlier, according to the median estimate of 34 economists in a Reuters poll, compared with a 1.1% gain in May.

June marked the first full month of higher U.S. tariffs on $200 billion of Chinese goods, which were implemented weeks earlier.

Factory - Activity - Surveys - Export - Orders

Factory activity surveys showed export orders also shrank last month, pointing to further weakness in the third quarter.

Some analysts had attributed the unexpected rise in shipments in May to a rush by Chinese exporters to beat additional U.S. tariffs being threatened by Washington.

Month - United - States - China - Trade

Late last month, the United States and China agreed to restart trade talks after President Donald Trump offered concessions including no new tariffs and an easing of restrictions on tech company Huawei...
(Excerpt) Read more at: www.oann.com
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