Signs of recovery: China export growth accelerates
The country’s trade surplus widened to $32 billion for the month, up from $27.7 billion in September.
BEIJING:
China’s export growth accelerated in October in fresh evidence of a broader rebound for the world’s second-largest economy. Exports rose 11.6% in October from a year earlier to $175.6 billion, the national customs bureau said on Saturday, strengthening for a second straight month and beating economists’ expectations. Imports, meanwhile, increased 2.4% to $143.6 billion, matching September’s gain but falling short of analyst forecasts. The country’s trade surplus, a source of friction with countries including the United States, widened to $32 billion for the month, up from $27.7 billion in September. China’s economic growth has slowed for seven straight quarters and hit a more than three-year low of 7.4% in the three months through September, but recent data has fuelled optimism the worst may be over. Economists have seized on the recent improvement in Chinese data as a sign that economic growth will likely accelerate in the current fourth quarter through the end of December.
Published in The Express Tribune, November 11th, 2012.
China’s export growth accelerated in October in fresh evidence of a broader rebound for the world’s second-largest economy. Exports rose 11.6% in October from a year earlier to $175.6 billion, the national customs bureau said on Saturday, strengthening for a second straight month and beating economists’ expectations. Imports, meanwhile, increased 2.4% to $143.6 billion, matching September’s gain but falling short of analyst forecasts. The country’s trade surplus, a source of friction with countries including the United States, widened to $32 billion for the month, up from $27.7 billion in September. China’s economic growth has slowed for seven straight quarters and hit a more than three-year low of 7.4% in the three months through September, but recent data has fuelled optimism the worst may be over. Economists have seized on the recent improvement in Chinese data as a sign that economic growth will likely accelerate in the current fourth quarter through the end of December.
Published in The Express Tribune, November 11th, 2012.