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Over the weekend, China released its October trade data and it was mixed versus expectations. Export growth year on year was firm at 11.6% versus 10.6 expected. Import growth was 4.6% versus 5%:
The trade balance rebounded to a rollicking $45.4 billion:
Doubts around the export growth will rightly remain given recent month’s whackyness in Hong Kong receipts. Despite that, export growth has flat-lined since early 2012 and import growth is the perfect picture a little cyclical strength within a larger structural downtrend. Stability appears the best case.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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