Chinese data numbers are surprisingly bad, lowest since 2016
- Asian Market
- 6 months ago
China’s surprisingly low exports and imports numbers for November may be signaling a decrease in global demand.
Exports in November were up 5.4% which well short of the 10% mark it was expected to reach a year on.
In fact that figure is the weakest performance since March of this year.
Chinese data released on Saturday did also hint that all exports to its major partners took was significantly slower.
Import increased at its slowest pace since October 2016, 3% is nowhere near the 14.5% which was set as the benchmark.
Analysts from the Commonwealth Bank of Australia pointed out to the huge miss in expectations of China’s data but had a positive outlook going ahead.
"Softer export growth reflects slower global growth and the fading effect of US importers' front‑loading shipments to avoid increases in tariffs. Falling import growth points to softening domestic demand. But we expect Chinese fiscal stimulus to support imports in 2019.”
Source: Smart Trend Team