The Australian: STRONGER evidence of a significant slowdown in the Chinese economy has emerged with much weaker-than-expected imports for April, as well as lower growth in exports.
Although economists are still not expecting a hard landing generally across the world’s second largest economy, there is likely to be something of a thud in the construction sector where government policies have deliberately sought to deflate any bubble that has been forming.
China's trade surplus widened to USD 18.4 billion in April from USD 5.35 billion in March, data from China’s General Administration of Customs showed today, with the surprise news spooking sharemarkets.
The disappointing trade data from China had an impact on Australian shares which fell back on the news, after initially rising on better-than-expected local jobs data.
The sharemarket later recovered to close firmer with the benchmark S&P/ASX200 index ending 0.5 per cent at 4295.6.
Chinese imports rose 0.3 per cent, much lower than economists' expectations for a 10 per cent rise and March's 5.3 per cent increase.
It is fully expected that Australian firms will feel the impact of decreasing economic growth in China. The US firms however are seeing it as well. The latest ISI China sales survey index of 20 U.S. based multinationals has been on a sharp decline - yet another piece of evidence of a material slowdown in China.
Although economists are still not expecting a hard landing generally across the world’s second largest economy, there is likely to be something of a thud in the construction sector where government policies have deliberately sought to deflate any bubble that has been forming.
China's trade surplus widened to USD 18.4 billion in April from USD 5.35 billion in March, data from China’s General Administration of Customs showed today, with the surprise news spooking sharemarkets.
The disappointing trade data from China had an impact on Australian shares which fell back on the news, after initially rising on better-than-expected local jobs data.
The sharemarket later recovered to close firmer with the benchmark S&P/ASX200 index ending 0.5 per cent at 4295.6.
Chinese imports rose 0.3 per cent, much lower than economists' expectations for a 10 per cent rise and March's 5.3 per cent increase.
It is fully expected that Australian firms will feel the impact of decreasing economic growth in China. The US firms however are seeing it as well. The latest ISI China sales survey index of 20 U.S. based multinationals has been on a sharp decline - yet another piece of evidence of a material slowdown in China.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI