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China’s Economy Takes Hit From Global Slowdown as Exports Weaken

  • Exports to US contract in August for first time since 2020
  • Weakening imports spell bad news for commodity producers
Bloomberg business news
China Exports Weaken on Covid Disruptions, Global Risks
Updated on

China’s export growth slowed more than expected in August and imports stagnated, a sign of a darkening global economic picture and weak domestic growth hit by Covid lockdowns and a property slump.

Exports in US dollar terms expanded 7.1% last month from a year earlier, the slowest pace since April when a lockdown in Shanghai disrupted shipping, and far weaker than economists had predicted. Imports grew just 0.3%, leaving a trade surplus of $79.4 billion last month.