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US Import & Export Prices Tumble In May As China Credit Impulse Collapses

Courtesy of ZeroHedge. View original post here.

For the first time since Augist 2016, both import prices (-0.3% MoM) and export prices (-0.7% MoM) dropped in May.

As China’s credit impulse disappears (and turns negative) so YoY gains in import and export prices are also rolling over notably.

And judging by historical relationships, it’s going to get worse before it gets better… no matter what China does now (it’s already baked into the cake for the next 9 months).


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