Afternoon Coffee: China’s Economic Slowdown Hits Asia, US Exports

China’s economic woes are hitting other Asian countries. South Korea exports tumbled 14.7% in August compared to the same month in 2014 as demand from China, it largest trading partner, fell.

Exports from the US are also expected to fall this year amid the Chinese slowing economy. Volume of US containerized exports is expected to drop 2.4% overall in 2015. In the first quarter of the year, containerized exports declined 8.3%.

US factory orders increased in July thanks to a growing demand for automobiles. The 0.4% rise in new orders was still lower than expected and lower than the 2.2% increase in June.

US crude oil stockpiles continue to grow, which once again pushed down oil prices today. Brent crude for October fell 90 cents to $48.66 a barrel. And US crude prices dropped $1.60 to $43.81 a barrel.


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