Chinese economy: China's economic outlook remains poor as imports fall 14.3 per cent

James Nickerson
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Chinese exports have fallen in the last ten months consecutively (Source: Getty)

It looks like we haven't seen the end of weak data from China, after new data revealed both imports and exports fell in August.

China’s imports in August fell 14.3 per cent in yuan-denominated terms from last year, against an 8.6 per cent decline in July - the figure's 10th consecutive decline in imports.

Meanwhile, while exports fell 6.1 per cent, the picture was somewhat improved against the 8.9 per cent decline in July.

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China’s trade surplus grew 40 per cent to 368bn yuan (£37.7bn).

Exports have been hit by weak global demand, while imports have been constrained by the slowdown in China’s domestic economy.

This comes after China recently revised its 2014 economic growth down from 7.4 per cent to 7.3 per cent, and just weeks after lower-than-expected manufacturing figures sparked market turmoil around the world, including in China.

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Elsewhere, Australian business confidence fell to a seven month low ,while Japanese GDP figures showed the economy shrank 1.2 per cent in the second quarter.

This is the first in a string of economic data China will release this week, including inflation data on Thursday.

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