China Dec. Exports Trail Estimates as Import Gains Accelerate
Overseas shipments rose 4.3 percent from a year earlier, the General Administration of Customs said today in Beijing. That compares with the median estimate for 5 percent growth from 39 economists surveyed by Bloomberg News. Imports (CNFRIMPY) increased 8.3 percent, leaving a narrower-than-projected trade surplus of $25.64 billion.
The data help flesh out a picture of the world’s second-largest economy in the fourth quarter after previously reported declines in December manufacturing and services gauges and the 22nd straight decline in the producer-price index, the longest streak since the Asian financial crisis. The statistics bureau reports gross domestic product for the October-to-December period on Jan. 20.
Analysts’ estimates for export gains ranged from 0.5 percent to 9 percent. Imports were projected to rise 5 percent, and the trade surplus was forecast at $32.15 billion, based on median projections of economists.
To contact the editor responsible for this story: Paul Panckhurst at firstname.lastname@example.org