Chinese Exports and Imports Contracted in August
Tuesday, September 8th, 2015 -- 9:23 AM
(AP) -Chinese exports and imports contracted in August in the latest sign of weakness for the world's second-biggest economy.Customs data posted online Tuesday 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.
Julian Evans-Pritchard of Capital Economics predicted that trade growth would improve over the next few months because August's 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.
But the trade data along with other recent weak indicators will add further pressure on China's communist leaders as they try to keep the economy from slowing too fast and shedding too many jobs.
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