China’s exports fell last month at their fastest pace since the onset three years ago of the COVID-19 pandemic, as an ailing global economy puts mounting pressure on Chinese policymakers for fresh stimulus measures.
Momentum in China’s post-COVID recovery has slowed after a brisk pickup in the first quarter, with analysts now downgrading their projections for the economy for the rest of the year.
Outbound shipments from the world’s second-largest economy slumped a worse-than-expected 12.4% year-on-year in June, data from China’s Customs Bureau showed on Thursday, following a drop of 7.5% in May.
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