Exports fell last month as global demand softened and US tariffs continued to take their toll. Imports improved thanks to strong infrastructure spending but remain consistent with a further economic slowdown. Meanwhile, the FX reserves data suggest that capital outflows remained well under control last month, which should make policymakers comfortable allowing greater renminbi depreciation.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services