Global Trade And Economic News: Chinese Exports Rise Unexpectedly
- According to The Wall Street Journal, Chinese exports rose 25.6 percent between August 2020 and August 2021, a figure that was far above the 17 percent increase that analysts had predicted. Exports to the European Union rose 29.4 percent while shipments to the United States increased 15.5 percent.
- The IHS/Markit Global Steel Users Purchasing Managers Index fell to 53.1 in August from 54.3 in July, its lowest since July 2020. Output and employment both slowed last month.
- The IHS/Markit Global Aluminum Users Purchasing Managers Index fell from 54.9 in July to 53.5 in August. Production expanded at the softest rate since June 2020, while new order growth eased to a 13-month low.
- The IHS/Markit Global Copper Users Purchasing Managers Index fell from 54.9 in July to 54.2 in August, the lowest reading in six months. U.S. copper users and those in Asia reported growth rates were unchanged during August while European firms signaled the weakest improvement in conditions since the start of 2021.
- Read the full reports here.