China's export and imports are expected to have continued to struggle over December, due to the spread of COVID-19 in the country disrupting production lines and waning demand both at home and abroad, a Reuters poll showed on Thursday.
Data from December are expected to show a 10.0% fall in outbound shipments from a year earlier, after November's figures were down an annual 8.7%, according to the median forecast of 29 economists in the poll. That would mark the worst reading since Feb. 2020.
Sub-indexes for new export orders in both the official and private sector China factory activity surveys extended declines last month, with the official figure the lowest it has been since April 2022. Beijing dismantled its "zero-COVID" rules at the beginning of December, leading to a massive wave of infections that made their way from the capital to manufacturing hubs near Shanghai, including those in the Yangtze River Delta.
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