Wednesday, December 6, 2023

"China's exports grow for first time in 6 months, eases pressure on factories"

Since exports are a reflection of the importing country's capacity to purchase, be wary of extrapolating a trending boost to China's economy out of this data until it is clear that China's customers will dodge economic slowdowns of their own.

From Reuters via Yahoo Finance, December 6/7:

China's exports grew for the first time in six months in November, beating economists' forecasts and suggesting factories in the world's second-largest economy may be finding their footing after a bruising slump in demand at home and abroad.

Mixed manufacturing data for November has kept alive calls for further policy support to shore up growth but also raised questions about whether predominantly negative sentiment-based surveys have masked improvements in conditions.

Exports grew 0.5% from a year earlier in November, customs data showed on Thursday, compared with a 6.4% fall in October and beating the 1.1% drop expected in a Reuters poll. Imports fell 0.6%, dashing forecasts for a 3.3% increase and swinging from a 3.0% jump last month....

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