AIM IP specialist Tekcapital to sell or float all four portfolio companies 'within 2 years'. Watch the full video here

Less Ads, More Data, More Tools Register for FREE

China import growth unexpectedly dips in July

Fri, 7th Aug 2020 07:14

(Sharecast News) - Chinese exports printed well ahead of economists' forecasts again in July but import growth dipped, stoking some concern about the pace of the domestic recovery in China.
According to trade customs data, in US dollar terms, the year-on-year rate of growth in Chinese exports picked up from 0.5% for June to 7.2% in July (consensus: -0.5%).

Martin Rasmussen at Capital Economics attributed much of the strength in the figures to overseas demand for Covid-19 related equipment which he expected to fade.

Import growth meanwhile slipped from 2.7% to -1.4% (consensus: 0.9%).

Nevertheless, upon seasonal adjustment and in volume terms, imports were 1.0% higher last month, Rasmussen pointed out, consistent with the ongoing recovery in domestic demand.

Indeed, the continued acceleration in credit growth and stimulus put in place by Beijing both bode well for the recovery in coming months, he added.

Export growth meanwhile should be supported by easing lockdown restrictions globally.



More News

Lockdown ease boosts UK retail sales in April but food and drink slows

Lockdown ease boosts UK retail sales in April but food and drink slows

Today 05:07

SSE, Equinor plan new gas power plant with carbon capture in Scotland

May 11 (Reuters) - British utility SSE and Norwegian energy firm Equinor are jointly developing a new gas-fired power plant equipped with carbon capture technology (CCS) at Peterhead in Scotland, they said on Tuesday.The planned new 900-megawatt (...

Today 01:01

UK shoppers buy clothes for outdoor social life, holidays at home

LONDON, May 11 (Reuters) - British shoppers bought warm clothes to meet friends and family outdoors - part of a broader rise in retail spending last month as many shops re-opened - and people booked more summer holidays in the United Kingdom, sur...

Today 00:01

Non-hospitalised COVID patients have low risk of serious long-term effects -study

May 10 (Reuters) - Non-hospitalised COVID-19 patients have a low risk of serious long-term effects, but they report more visits to general practitioners following infection, according to a study published in The Lancet Infectious Diseases journal ...

10 May 21 23:35

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.