World trade volumes rebounded in August, an indication that the global economic recovery may still have some momentum. Figures released by the Netherlands Bureau for Economic Policy Analysis, also known as the CPB, Monday showed trade volumes rose 1.5% from July when it fell 1.0%.
The CPB's figures are closely watched by policy makers, including a number of central banks, because they provide the earliest available measure of global trade.
"In most parts of the world, import volumes rose significantly," the CPB said. "On the export side, emerging economies outperformed advanced economies, the euro zone being the only one of three major [developed] blocks to achieve positive export growth. In Japan, both import and export volume declined substantially."
The only thing you can extrapolate from this is that US exports were probably weak in August and into September as well (following subdued outbound port volumes). No problem, the US is back in the old habit of buying useless garbage from China at record amounts.