China’s Shipments to U.S. Plunge 33% in August as Overall Exports Growth Hits a 6-Month Low

• Alot of fakery in official China economic statistics. The REAL figures are way worse than what is reported. I highly doubt exports grew 4.4%.
  –
• China’s Shipments to U.S. Plunge 33% in August as Overall Exports Growth Hits a 6-Month Low
  by Anniek Bao, https://www.cnbc.com/
  * Exports climbed 4.4% in August in U.S. dollar terms from a year earlier, marking their lowest growth since February.
  * Imports rose 1.3% last month from a year ago, missing Reuters estimates for a 3% growth.
  * The U.S. has remained China’s largest export destination on a single-country basis, despite the continued slump in trade.
  –
  China’s exports to the U.S. plunged 33% in August while overall growth slowed to its weakest in six months, weighed down in part by President Donald Trump’s crackdown on transshipments and as the impact of frontloading exports wanes. Imports from the U.S. also dropped 16% from a year ago, customs data showed.
  –
  China’s overall exports climbed 4.4% in August in U.S. dollar terms from a year earlier, customs data showed Monday, marking their lowest growth since February while missing Reuters-polled economists’ estimates for a 5.0% rise. That growth slowed from the prior two months, in part reflecting the statistical effect of a high base last year when China’s exports grew at their fastest pace in nearly one-and-a-half years.
  –
  “With the temporary boost from the U.S.-China trade truce fading and the U.S. raising tariffs on shipments rerouted via other countries, exports are likely to come under pressure in the near term,” said Zichun Huang, China economist at Capital Economics said in a note.
  –
  read more.

end