massive explosion: Julian Evans-Pritchard of Capital Economics predicted that trade growth would improve over the next few months because August figures were hit by disruption from a massive explosion at the busy Tianjin port and government enforced factory shutdowns in the run-up to a huge military parade in Beijing last week, according to Asahi Shimbun. But the trade data along with other recent weak indicators will add further pressure on China communist leaders as they try to keep the economy from slowing too fast and shedding too many jobs. Customs data posted online Sept. 8 showed that shipments of goods last month shrank 5.5 percent in dollar terms compared with a year earlier while imports tumbled by 13.8 percent. China legions of export-oriented manufacturers have powered the country remarkable economic ascent but growth is stalling amid waning global demand. The latest numbers come after a larger-than-expected 8.3 percent decline in July exports and a slew of other recent downbeat data on factory purchasing, retail sales, investment and industrial production. The manufacturing industry woes are compounded by Beijing efforts to guide the economy away from trade and investment toward growth based on slower, self-sustaining domestic consumption.
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