CHINA DATA: China October exports +11.6% y/y,……..
CHINA DATA: China October exports +11.6% y/y, significantly above the +9.0%
expected by economists. Imports rose just 2.4% last month, below the 3%
expected, suggesting that domestic demand remains tepid. The monthly trade gap
ballooned to $31.99 billion, the biggest since January 2009 and well above the
$26.9 billion expected. The October surplus pushed the trade gap so far this
year to $180.23 billion, up significantly over the $126.8 billion recorded
during the same period last year. Economists have hailed the export number but
said the import disappointment suggests that the recovery in demand is only weak
so far, and that the government will need to ease policy further to consolidate.
Government leaders saying at the Communist Party Congress here that October data
shows the slowdown is officially over.