ICYMI, China January trade data posts with the data are here:
- January China trade balance: CNY 271.2bn (expected CNY 245bn)
- January China trade balance in USD terms: Surplus of 39.16bn USD (expected 34.3bn)
- China's trade figures with the US in January, exports down, imports collapse
OCBC making the same point I've made four times so far today, to be aware of the holiday-induced distortions:
- The robust January number was most likely boosted by the holiday factor, rather than an improvement in economic fundamentals
OCBC add more:
- The strong January number would also signal that February could be weaker than expected. Overall, the trade outlook in 2019 is facing pressure due to uncertainties in the trade talks and the global economy.
via Bloomberg report
