Moreover, some of the port gridlock appears to have cleared in a boost to China’s shippers last month. That put further pressure on global supply chains already struggling with a shortage of container vessels and high raw material prices. Companies faced increasing pressure https://www.reuters.com/world/china/chinas-factory-activity-expands-slower-pace-august-official-pmi-2021-08-31 in August as factory activity expanded at a slower pace while the services sector slumped into contraction. China posted a trade surplus of $58.34 billion in August, versus the poll’s forecast for a $51.05 billion surplus and $56.58 billion in July. The trade surplus with the United States – a source of years-long friction between the two economic powers – rose to $37.68 billion from $35.4 billion in July, Reuters calculations based on the customs data showed.

Source: MetroXpress September 07, 2021 03:33 UTC