A
container
ship
from
China-owned
Cosco
Shipping
sits
in
the
Port
of
Oakland
in
California
on
Aug.
7,
2023.
Justin
Sullivan
|
Getty
Images
News
|
Getty
Images
BEIJING
—
China
said
Tuesday
that
exports
fell
by
14.5%
in
July
from
a
year
ago,
while
imports
dropped
by
12.4%
in
U.S.
dollar
terms.
That’s
worse
than
what
analysts
had
expected.
A
Reuters
poll
predicted
a
12.5%
decline
in
exports
in
July
from
a
year
ago,
in
U.S.
dollar
terms.
Imports
were
expected
to
have
dropped
by
5%
during
that
time,
according
to
the
poll.
An
official
measure
of
manufacturing
activity
posted
a
fourth-straight
month
of
contraction
in
July.
A
similar
survey
from
Caixin
for
July
found
that
manufacturers’
new
export
business
contracted
at
the
fastest
pace
since
September
2022.
This
is
breaking
news.
Please
check
back
for
updates.
