Tuesday, September 8, 2015

China Exports Decline 6.1%

China’s foreign trade remains the most solid indication that something new and different is happening in the economy. Customs data for August showed exports down 6.1 percent, a change that strongly suggests declines not just in total manufacturing in China but also in global consumption of manufactured goods. Imports were down more sharply, 14.3 percent. Part of this may be explained by lower prices for fossil fuels and a few other commodities, and part by manufacturing process improvements that result in better manufacturing yield, but such a sharp decline makes it seem unlikely that manufacturing is holding steady or growing.

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