• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

China’s export, import growth likely eased in Aug on COVID-19 cases, supply bottlenecks: Reuters poll

September 6, 2021 by David Barret Leave a Comment

September 6, 2021

BEIJING (Reuters) – China’s export growth is expected to have moderated in August amid port congestion caused by fresh COVID-19 cases, a Reuters poll showed, while the pace of imports also slowed, highlighting the growing pressure on the world’s second-largest economy.

The forecast slackening in overall trade add to a flurry of soft Chinese data since July and is likely to reinforce market expectations for more near-term support measures https://ift.tt/2WxQOtX to revitalise the flagging economic recovery.

Exports are expected to have risen 17.1% in August from a year earlier, the median forecast in a Reuters poll of 31 economists showed on Monday, compared with growth of 19.3% in July. The data are due out on Tuesday.

Nomura analysts attributed the slower growth to a shift in consumption towards services in developed economies following their reopening on the back of rapid vaccine rollouts, and shipment disruptions at the Ningbo-Zhoushan port caused by the latest wave of local COVID-19 cases.

Offsetting some of this, a few analysts say, is the possible diversion of export orders back to China due to rising COVID-19 cases in Southeast Asia.

Imports likely rose 26.8% last month year-on-year, the poll also showed, compared with 28.1% growth in July.

The Chinese economy made a remarkably strong revival after the initial coronavirus-led slump last year, but momentum has come off over the past few months as businesses grapple with sporadic COVID-19 outbreaks, supply bottlenecks and higher raw material costs. Commodity prices remain elevated despite Beijing’s attempts to cool them.

These factor drove China’s manufacturing activity into contraction in August https://ift.tt/3BNOuxR for the first time in nearly 1-1/2 years, a private survey showed on Wednesday.

The country appears to have largely contained the latest coronavirus outbreaks of the more infectious Delta variant, but it promptd measures including mass testing for millions of people as well as travel restrictions of varying degrees in August.

“If there’s demand from the market, cutting reserve requirement ratios and even lowering interest rates are both viable options,” Zeng Gang, vice director at National Institution for Finance and Development, told state-owned China Securities Journal in an interview.

Many analysts expect the People’s Bank of China to deliver a further cut to the amount of cash banks must hold as reserves later this year to lift growth, on top of July’s cut https://ift.tt/36slDl6 which released around 1 trillion yuan ($6.47 trillion) in long-term liquidity into the economy.

(Reporting by Stella Qiu and Ryan Woo; Editing by Shri Navaratnam)

Source Link China’s export, import growth likely eased in Aug on COVID-19 cases, supply bottlenecks: Reuters poll

David Barret
David Barret

Related posts:

  1. Exclusive-Apple hit with antitrust case in India over in-app payments issues
  2. Get 50B of data for just £12 a month with this unbeatable Smarty SIM only deal
  3. FTC bans spyware maker SpyFone, and orders it to notify hacked victims
  4. The only one way to tackle ransomware: Zero Trust

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • What Is “Nobel Disease”, And Why Do So Many Prizewinners Go On To Develop It?
  • New Human “Mini-Brains” Combine Cells From The Whole Brain – Even The Blood Vessels
  • Aging NASA Spacecraft Could Intercept The Interstellar Comet On The Other Side Of The Sun, Astronomers Suggest
  • The Deepest Complex Ecosystem Ever Discovered Has Been Found 9,000 Meters Below The Sea
  • Drone Footage Shows Synchronized Moves By Killer Whale Pairs Are More Effective Than Hunting Alone
  • For The First Time, A Quantum Computer Has Been Sent Into Space
  • A Vast Ocean Of Water May Be Trapped In The Transition Zone Beneath Our Feet
  • Beneath Antarctica’s Sea Ice, Leopard Seals Sing Nursery Rhymes In Search Of Love
  • Double-Slit Experiment Performed With Single Atoms Shows Einstein Was Wrong
  • Forecasting Tomorrow: How Science Fiction Is Helping Scientists Explore Possible Futures
  • Siberian Mummy’s 2,000-Year-Old Tattoos Reveal The History Of Ancient Art
  • Humans Were Buzzing On Psychoactive Betel Nuts 4,000 Years Ago
  • Megaflash Stretching 892 Kilometers Sets New World Record For Longest Lightning Strike
  • Your Organs Don’t All Age At The Same Rate. One Is Growing Old Much Quicker Than Others
  • IFLScience The Big Questions: How Has The Internet Changed The Way We Use Language?
  • One Of The Most Dangerous Volcanoes Is Home To The World’s Largest Lava Lake
  • What Astrobiology Might Tell Us About What Aliens May Look Like
  • Voyager: An Inside Look At NASA’s Longest-Running Mission With Someone There From The Start
  • Meet Alba: The World’s Only Known Albino Orangutan Still Living In Borneo
  • Yikes! Baby African Social Spiders Filmed Eating Their Moms Start-To-Finish For The First Time
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version