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China Exports Likely To Fall In 2023

CHINA PRESS

China's exports will likely fall in U.S. dollar terms in 2023, as December exports are unlikely to accelerate significantly from November's 0.5% y/y growth, while exports for the first 11 months fell 5.2% y/y, according to Zheng Houcheng, director at the Yingda Securities Research Institute. Zheng said exporters will feel pressure due to the high U.S. federal funds rate and the U.S. ISM manufacturing PMI remaining low. Additionally, international oil prices are likely to come under pressure which will suppress China’s PPI and negatively impact exports. (Source: Yicai)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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