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China released its June trade numbers late yesterday and the news if further slowing with imports down -8.4% year on year and exports -4.8%. Both missed estimates solidly. The trade surplus fell a little to $46.6bn:
The falling yuan improved things, however, with exports increasing 1.3% and imports falling -2.3%.
In volume terms:
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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