China's export slump is expected to have accelerated in June, as sluggish overseas economies struggling with inflation and rising interest rates buy up fewer goods from Chinese factories.
Outbound shipments from the world's second-largest economy were projected to have fallen 9.5% year-on-year, following a drop of 7.5% in May, according to the median forecast of 30 economists in the poll finalised on Wednesday.
One-third of respondents to the trade poll forecast that exports in June dropped by a double-digit percentage, as in January. Societe Generale was the most bearish, anticipating a drop of 15.7%. in June while producer prices fell at their fastest pace in more than seven years, bolstering the case for further policy stimulus.
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