Outbound shipments from China in August missed a forecast 5% increase, marking the slowest growth in six months.
China’s export growth slowed to a six-month low in August as a brief boost from a tariff truce with the U.S. faded, but demand elsewhere provided officials some relief as they try to underpin an economy facing low domestic consumption and external risks.
Authorities are counting on manufacturers to diversify into other markets in the wake of U.S. President Donald Trump’s erratic trade policy, enabling them to hit Beijing’s annual growth target of “around 5%” without rushing to offer additional near-term fiscal support.
Outbound shipments from China rose 4.4% year-on-year in August, customs data showed on Monday, missing a forecast 5% increase in a Reuters poll and marking the slowest growth in six months. They compared with July’s better-than-expected 7.2% increase.
Imports grew 1.3%, following 4.1% growth a month earlier. Economists had predicted a 3.0% rise.
The slowdown in headline export growth was affected by a high base of comparison, but last August’s figure was also distorted by manufacturers rushing to beat tariffs from a number of trading partners.
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