Exporters take heart from signs of Europe, US rebound

0 Comment(s)Print E-mail China Daily, August 16, 2013
Adjust font size:

Unexpected economic strength in the eurozone and United States in the second quarter has positive implications for China and other emerging countries.

The rebound may support demand in the global markets in the second half of the year and lead th e indebted eurozone out of recession, analysts said, but the recovery won't be a smooth one.

The eurozone's GDP rose 0.2 percent in the second quarter, compared with the first, exceeding market expectations. GDP contracted 0.3 percent in the first quarter, according to the European Union statistics office.

European Central Bank President Mario Draghi said last week that the latest statistics show that the eurozone has emerged from its most serious recession, and he anticipated stable economic conditions in the future.

Meanwhile, real US GDP grew 1.7 percent quarter-on-quarter in the first three months, above the market's expectation of about 1 percent.

"I'm looking forward to seeing a quick recovery of the economy in the US and Europe, which can help my company get through its toughest times," said Pan Xiansheng, the owner of Yiwu Liansheng Glass Co Ltd, which sells many of its products overseas.

Yiwu Liansheng's export orders fell in the first half, and the gross profit margin narrowed from 20 percent previously to about 10 percent so far this year,

To minimize expenses, the company shut some production lines starting in May, said Pan.

China saw improved trade data in July, with 5.1 percent year-on-year growth of exports and a 10.9 percent increase in imports. In June, exports dropped 3.1 percent, while imports only rose 0.7 percent, according to the General Administration of Customs.

Wang Tao, chief economist in China at UBS AG, said: "The renewed life in external demand could provide important support to China's economic growth in the second half, helping the government to achieve the 7.5 percent growth target for this year".

She forecast a modest quarter-on-quarter rebound in the third quarter.

Ye Mingchun, the manager of Zhejiang Tianyiqi Shoes, based in Taizhou, Zhejiang province, said falling export volumes among trading companies over the past seven months reflected sluggish global demand.

"But I've seen modest new signs of export growth since June, which probably was an indication of an improving external economic environment - or maybe just a boost from Christmas orders," said Ye.

Ye's company achieved slight profit growth in the first quarter, but it couldn't make up for the huge losses in the past year.

However, as economic imbalances and debt issues persist in the eurozone, and countries including Spain and Greece are still mired in a recession, the economic recovery may not be so fast, analysts said.

Byron Wien, an economist at Blackstone, still worries about the US economy in the second half, although he agrees with the average forecast that the US may achieve 2 percent GDP growth this year.

"The US economy is suffering from a lack of demand ... and there are also structural problems in employment," Wien said.

"The measured global recovery is putting a ceiling on how fast Chinese exports can grow," said Alaistair Chan, an economist from Moody's Analytics.

"But manufacturers continue to point to a lack of export demand in purchasing manager surveys. While the worst seems to be over, the upturn will be relatively flat," said Chan.

Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 亚洲va国产日韩欧美精品| 制服丝袜人妻中文字幕在线| 97人人模人人爽人人少妇| 男人进去女人爽免费视频国产| 国产剧果冻传媒星空在线| 亚洲综合在线另类色区奇米| 国内精品伊人久久久久妇| xxxxx做受大片在线观看免费| 日本免费看片在线播放| 九九热精品国产| 第四色最新网站| 国产999视频| 韩国免费特一级毛片| 国产精品久久久久久久| 一级片免费试看| 新婚娇妻1一29芷姗txt下载| 久久精品女人天堂AV免费观看| 欧美人与物VIDEOS另类| 亚洲欧洲国产综合| 美女视频黄a视频全免费网站一区 美女视频黄a视频全免费网站色 | 久久午夜福利无码1000合集 | 欧美重口绿帽video| 人妻无码久久一区二区三区免费| 精品国产杨幂在线观看| 四虎国产精品永久在线网址| 色聚网久久综合| 国产亚州精品女人久久久久久| 鲤鱼乡太大了坐不下去| 国产成人精品无缓存在线播放| 四虎国产永久免费久久| 国产精品99久久免费| 美女网站在线观看视频免费的| 国产精品美女久久久| 69tang在线观看| 国产精品边做奶水狂喷小说| 91视频啊啊啊| 国产麻豆一精品一av一免费| 99久久亚洲精品无码毛片| 在线看欧美日韩中文字幕| a毛片免费观看| 夜夜躁狠狠躁日日躁视频|