China September Dollar-denominated Imports drop 8.5%
|China's Imports in US Dollar terms tanked in September, pushing the Trade Surplus higher.
The inbound shipments fell 8.5% year-on-year in September versus Reuters estimate of a 5.2% drop. Meanwhile, Exports or outbound shipments dropped by 3.2% year-on-year, also beating the expected drop of 3%.
As a result, the trade surplus widened to $39.65 billion, beating the forecast of $33.3 billion.
Again, the slide in imports underlines the weakening of domestic demand conditions at a time when the world's second-largest economy is feeling the heat of the slowdown in the external sector (due to trade tensions).
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