China's July exports contracted the most since the start of the pandemic. It shows a tough external market for the world's factory when it needs it the most.
Exports to the European Union and Southeast Asian countries registered the largest declines from June, wrote Louise Loo, lead economist at Oxford Economics in a Tuesday analysis of China's trade data.
Meanwhile, China's consumer demand isn't that upbeat either, the July import data shows. Shipments into the country fell 12.4% in July from a year ago, widely missing a 5% forecast, per the Reuters poll.
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