China's exports likely kept solid momentum in August - Reuters poll

The Reuters poll on 23 economists show that China's exports likely posted a second month of solid gains as more of its trading partners open up their respective economies amid the relaxing of coronavirus restrictions.

 

Estimates show that China's August exports are to rise by 7.1% y/y, holding steady from the rise of 7.2% y/y from July. Meanwhile, imports are also seen improving to rise by 0.1% y/y, up from a drop of 1.4% y/y in July.

 

The official data is scheduled to be released some time next Monday.

 

For some context, the beat in exports data in July surpassed expectations handily and is giving hope that the economic recovery in China is picking up more significantly.

 

Despite that, China remains well behind their pledge in the Phase One trade deal as imports - particularly from the US - continue to lag. But hey, who is counting?