China’s Exports Expected to Decline 3% Yoy in September: Reuters Poll
According to a recent Reuters poll, China’s exports are forecast to decline at a faster pace in September over the continued trade war with the US. Meanwhile, imports are expected to fall for the fifth straight month during the period.
The Reuters poll reveals that China’s exports are expected to have declined by 3% YoY in September. Another possible reason for the steep decline in September’s exports is the rush by Chinese exporters to ship goods before the new tariffs kicked in during the month, supporting higher exports in the preceding months of July and August.
If the ongoing negotiations taking place between US and China trade teams fail to make much progress, the US is expected to implement more tariff hikes on Chinese imports, which could further impact China’s exports in the coming months. The outlook for China’s export-reliant economy continues to remain bleak on the back of weakening economic growth in leading economies around the world. Even if the US and China come to an agreement on trade, in the short-term, China’s exports are expected to be impacted by the ongoing slowdown in other economies.
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