A slide in China's exports picked up pace in September while imports contra...
BEIJING - A slide in China’s exports picked up pace in September while imports contracted for a fifth straight month, pointing to further weakness in the economy and underlining the need for more stimulus as the Sino-U.S. trade war drags on.
September exports fell 3.2% from a year earlier, the biggest fall since February, customs data showed on Monday. Analysts had expected a 3% decline in a Reuters poll after August’s 1% drop. Total September imports fell 8.5% after August’s 5.6% decline, the lowest since May, and were expected to fall 5.2%.
Despite more than a year of growth boosting measures, China’s domestic demand has remained stubbornly weak as economic uncertainty weighs on business and consumer confidence and discourages fresh investment.China reported a trade surplus of $39.65 billion last month, compared with a $34.84 billion surplus in August. Analysts had forecast $33.3 billion.
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