Chinese trade data points to mixed picture – Deutsche Bank

By FXStreet FXStreet (Delhi) – Jim Reid, Research Analyst at Deutsche Bank, notes that the latest September Chinese trade data is pointing towards a fairly mixed picture of the economy.

Key Quotes

“Bettering expectations, exports were down -1.1% mom in Yuan terms last month, following consensus estimates for a drop of -7.4% and which comes on the back of declines of -6.1% and -8.9% in the two months previously.”

“Imports, however, have slowed considerably (-17.7% mom vs. -16.5% expected), the steepest drop since May. That’s seen China’s trade surplus increase to Rmb378bn (vs. Rmb292bn expected), from Rmb368bn in August. In USD terms it’s largely the same story, with exports (-3.7% mom vs. -6.0%) down but ahead of expectations, and imports (-20.4% mom vs. -16.0% expected) falling sharply and more than expected.”
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Source:: FX Street