China Imports Fall Less Than Expected Sparking Optimism on Consumer Demand

China’s exports slumped more than expected in November but the decline in imports slowed, a tentative sign that domestic demand is on the mend, figures showed Tuesday.

November exports fell 6.8 percent from a year ago, dropping for a fifth month, while imports fell 8.7 percent over the same period, China’s General Administration of Customs said on Tuesday. The trade surplus narrowed to $54.1 billion from the record high of $61.64 billion last month

The trade figures compare with a Reuters’ analyst poll of a decline of 5.0 percent for exports and a fall of 12.6 percent for exports.

Exports had fallen by 6.9 percent from a year earlier in October while imports had tumbled 18.8 percent.

Separately, yuan-denominated data showed a 3.7 percent fall in exports from a year earlier, while imports fell 5.6 percent. That left the country with a trade surplus of 343.10 billion yuan for the month.

via CNBC

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