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The value of imports also fell by more than expected. Down 12. 4 onjuly a year ago, but that partly reflects a fall in the price of commodities such as crude oil. The figures will concern chinas government who are grappling with economic growth. The quarterly Growth Figure was just 0. 8 in the april tojune period as the country continued its post covid recovery. And last month chinas struggles were cited as a key concern for the Global Economy when the International Monetary fund updated its Global Growth forecast for this year to 3 . David woo is a former imf economist and wall street strategist, hejoins me now from tel aviv. Its a grim picture for china, isnt it . The third consecutive month of decline. Whats going wrong for them . ,. , decline. Whats going ....
I mean, these figures for trade are actually even worse than economists had anticipated in terms of exports. Its the weakest data since back in february 2020, when china, of course, was right in the thick of the pandemic. Why is this data so bad . Well, its mainly to do with chinas customers abroad. Theyre really struggling with high inflation, high Interest Rates. So theyre spending less money on chinese goods. And if youre a policymaker in beijing, well, its difficult to say what you should do about that. You cantjust force other countries to start buying more of your goods. But theres also more to contend with. If you look at the spending within china, thats also looking not very encouraging at the moment. Tomorrow, were expecting some more figures to be coming out, which will probably show Deflation Prices actually going down in china. Thats a bit more difficult to expl ....
A persistent Gender Pay Gap and sexism in the city as bad as ever, is there much for the Business World to celebrate . And, groomed for success how the pampered pooches at crufts are part of a booming pet economy tipped to hit half a trillion dollars by 2030. A very warm welcome to the programme. The greatest Comeback Story never told thats how President Biden has described his handling of the us economy, as he delivered his state of the Union Address in the last few hours. It is a Comeback Story for sure. Since the president took office in 2021, the us has put the pandemic firmly behind it, performing better than most other developed economies, with stro ....
A full bulletin of news at the top of the hour. Now on bbc news, newscast. Chris, we have got a Cabinet Minister to keep us company this episode. Yes. Mel stride, work and pensions secretary, hello. Good evening, adam. I am impressed you have got a crib sheet there already, started taking notes already. I have only written about three things down i promise it will be full by the end. Then we will mark your homework we will mark your homework like a Human Version of the obr i have got to ask you the big question that has become the classic interview question this week, after the Prime Minister s interview with grazia, do you make your own bed . No, but i do load the dishwasher. 0k. I do walk the dog. And mrs may would approve, i do take the bins out. Because that is a mansjob. So i do that as well. Chris, i want to know ....