Bloomberg
Published Nov 08, 2019 04:31
Updated Nov 08, 2019 05:19
China’s Trade Data Show Brighter Exports, Weak Domestic Demand
(Bloomberg) -- China’s exports declined less than expected in October as optimism rose about an interim trade deal with the U.S., while imports contracted for a sixth straight month.
Exports decreased 0.9% in dollar terms in October from a year earlier, while imports dropped by 6.4%, the customs administration said Friday. That left a trade surplus of $42.81 billion for the month.
Key Insights
“A slower pace of decline in exports in October offers some encouragement for the economy’s performance heading into year-end. That said, a continued slide in imports, coupled with contraction in the new orders component of the official manufacturing PMI, suggest domestic demand remains weak -- tempering any optimism about growth bottoming out near term.”
David Qu and Qian Wan, Bloomberg Economics
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To contact Bloomberg News staff for this story: Miao Han in Beijing at mhan22@bloomberg.net;Tomoko Sato in Tokyo at tsato3@bloomberg.net
To contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, Sharon Chen
©2019 Bloomberg L.P.
Written By: Bloomberg
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