James Nicolaou

The chart below demonstrates year on year growth rates of the 3-month moving averages of the import demands of China and oil exporters. The plot shows dramatic decelerations of import demand; as of December, the %YoY decline in import demand from China was 11.6%, and for oil exporters (imputing two months) it was 15.5%. Import demand for China and the oil-exporting economies has decelerated to negative levels.


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