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China’s trade unexpectedly shrinks as Covid curbs, global slowdown jolt demand ...Qatar
China’s exports and imports unexpectedly contracted in October, the first simultaneous slump since May 2020, as a perfect storm of Covid curbs at home and global recession risks dented demand and further darkened the outlook for a struggling economy. The bleak data highlights the challenge for policymakers in China as they press on with pandemic prevention measures and try to navigate broad pressure from surging inflation, sweeping increases in worldwide interest rates and a global slowdown. Outbound shipments in October shrank 0.3% from a year earlier, a sharp turnaround from a 5.7% gain in September, official data showed yesterday, and well below analysts’ expectations for a 4.3% increase
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