Exports by the Philippines fell by 4% on a year earlier in August, the seventeenth straight month of declines. The good news though is that economists expected a 9% decline, and the critical electronics sector actually increased 12%. Panjiva data shows exports of semiconductor-related products to China increased 15% in the month. Yet, the U.S. remains a problem – exports fell 4% in August and seaborne shipments in September fell by a quarter on a year earlier.
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