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China June exports seen falling, adding to fears of global slowdown: Reuters poll


Added 07-10-19 05:03:01am EST - “China's exports likely fell in June as weakening global demand and a sharp ...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “China June exports seen falling, adding to fears of global...”. Below is an excerpt from the article.

BEIJING (Reuters) - China’s exports likely fell in June as weakening global demand and a sharp hike in U.S. tariffs took a heavier toll on the world’s largest trading nation, a Reuters poll showed.

Imports are expected to have fallen for a second straight month, pointing to continued weakness in domestic demand and highlighting the need for Beijing to roll out more economic support measures.

If Friday’s trade data are in line with the downbeat forecasts or worse, it could spark concerns about a sharper-than-expected slowdown in China and the risk of a global recession.

Neighboring South Korea last week slashed its export forecasts and cut this year’s economic growth target to what would be a seven-year low as the U.S.-China trade war drags on, weighing on global demand.

China’s June exports are expected to have declined 2 percent from a year earlier, according to the median estimate of 34 economists in a Reuters poll, compared with a 1.1% gain in May.

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