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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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza