PREVIEW: China April Exports and.........>

CHINA DATA: PREVIEW: China April Exports and Imports Seen Weaker (due 7/5/20)

--Apr exports seen -15.7%, imports seen -11.2%

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--China's General Administration of Customs is due to release April trade

statistics on Thursday, May 7. Here is a quick rundown on expectations:

- China's exports and imports are both likely to dip further y/y in April as the

coronavirus pandemic sapped global demand for Chinese goods.

- The latest U.S. ISM manufacturing PMI fell to 41.5, the lowest in 11 years and

Eurozone PMI down to record low 33.4 in April, but indicators of weak demand for

China goods. 

-Meanwhile, a sub-indicator of China's PMI -- New Exports Orders -- dropped to

33.5 from previous 46.4, underlining deteriorating external environment.

- The plunge in commodity prices such as crude oil, copper and iron and ore in

recent months will lead to a lower imports values.