Chinese exports jump in August
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China's exports rose 8.7% year-on-year in August 2024, up from 7.0% in July; this exceeded the 6.6% forecast by Bloomberg analysts. Imports only grew 0.5%, down from 7.2% in July and below the 2.5% estimate. Consumer inflation reached a six-month high but still fell short of expectations, raising concerns about potential deflation. Zhang Zhiwei, President and Chief Economist at Pinpoint Asset Management, noted the diverging trends of weak domestic demand and strong export competitiveness, questioning the sustainability of export strength amid a weakening US economy and rising trade tensions. China's economic recovery has been uneven since late 2022.

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