China Starting to Steady with Exports

China’s exports handily beat forecasts in November, adding to recent evidence of a stabilization in the world’s second-largest economy as its leaders embark on an ambitious restructuring plan.

Exports rose 12.7 percent from a year earlier, the Customs Administration said on Sunday, against a median forecast in a Reuters poll of a 7.1 percent rise.  Imports rose 5.3 percent, below a forecast of 7.2 percent, leaving a trade surplus of $33.8 billion against forecasts for $21.7 billion.

“There are signs that the global activity and trade cycle is gaining momentum, driven by the recovery in high income countries, and China’s exporters are benefiting from that,” Louis Kuijs, economist at RBS, said in a note.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.