China September exports, imports in deeper contraction

BEIJING: A slide in China’s exports picked up pace in September while imports contracted for a fifth straight month, pointing to further weakness in the economy and underlining the need for more stimulus as the Sino-US trade war drags on. September exports fell 3.2 per cent from a year earlier, the biggest fall since February, customs data showed on Monday. Analysts had expected a 3 per cent decline in a Reuters poll after August’s 1 per cent drop. Total September imports fell 8.5 per cent after August’s 5.6 per cent decline, the lowest since May, and were expected to fall 5.2 per cent. — Reuters