Rashna
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China's March exports shrink 15% y/y in shock fall
BEIJING: China's export sales contracted 15% in March while import shipments fell at their sharpest rate since the 2009 global financial crisis, a shock outcome that deepens concern about sputtering Chinese economic growth.
The tumble in exports - the worst in about a year - compared with expectations for a 12% rise and could heighten worries about how a rising yuan has hurt demand for Chinese goods and services abroad, analysts said.
In a sign that domestic demand was also tepid, imports into the world's second-biggest economy shrunk 12.7% last month from a year ago, the General Administration of Customs said on Monday.
That was the biggest slump in imports since May 2009, and compared with a Reuters poll forecast for a 11.7% drop.
"It's a very bad number that was much worse than expectations," Louis Kuijs, an economist at RBS in Hong Kong, said in reference to the export data.
"It leads to warning flags both on global demand and China's competitiveness."
Read more at:
China's March exports shrink 15% y/y in shock fall - The Times of India
BEIJING: China's export sales contracted 15% in March while import shipments fell at their sharpest rate since the 2009 global financial crisis, a shock outcome that deepens concern about sputtering Chinese economic growth.
The tumble in exports - the worst in about a year - compared with expectations for a 12% rise and could heighten worries about how a rising yuan has hurt demand for Chinese goods and services abroad, analysts said.
In a sign that domestic demand was also tepid, imports into the world's second-biggest economy shrunk 12.7% last month from a year ago, the General Administration of Customs said on Monday.
That was the biggest slump in imports since May 2009, and compared with a Reuters poll forecast for a 11.7% drop.
"It's a very bad number that was much worse than expectations," Louis Kuijs, an economist at RBS in Hong Kong, said in reference to the export data.
"It leads to warning flags both on global demand and China's competitiveness."
Read more at:
China's March exports shrink 15% y/y in shock fall - The Times of India