Struggling manufacturing sector fails to prop up economy amid persistent property market weakness
email rounding up the latestChina’s exports fell 8.8 per cent in August compared with a year earlier, marking the fourth consecutive month of decline as the manufacturing sector in the world’s second-largest economy struggles to regain momentum.
The August contraction was less severe than a forecast fall of 9.2 per cent, according to analysts polled by Reuters, and better than the decline in July, when China’s exports shed 14.5 per cent, the worst since the start of the pandemic.buoyed economic activity during the country’s coronavirus pandemic lockdowns. But exporters have struggled this year with high global inflation and as foreign consumers cut back on electronics purchases.
The sustained weakness in trade and manufacturing comes as Chinese policymakers are also facing turmoil in the property sector, one of the economy’s other main growth engines, raising concerns for a post-pandemic recovery that has failed to take off. Policymakers in Beijing have come under pressure to provide more support but have refrained from enacting sweeping stimulus measures to revive growth, which lagged in the second quarter. The economy expanded just 0.8 per cent on the previous three months. Sluggish consumer sentiment led to price deflation in July, while factory activity
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