This could actually fit well within my last post, but it seemed distinctive enough to merit individual attention. Not really any commentary necessary from my part (this is for India,the world’s seventh largest economy by GDP, if you don’t want to click on the link):
Exports declined 24.3% from a year earlier to $21.84 billion, according to data released by the Ministry of Commerce and Industry. Exports fell 20.7% in August.
The value of imports also declined 25.4% from a year earlier to $32.32 billion in September, as lower global oil prices helped cut the country’s oil-import bill by 54.5%. Non-oil imports also fell 10.7%. [emphasis added]
It was the tenth consecutive contraction on the export (global growth) side. And the kicker:
Sluggish demand in key global markets such as the U.S. and Europe, together with the devaluation of the Chinese currency, have hurt India’s export prospects.
Just another day in Ms. Yellen’s transitory fantasy.
