Economics
China Exports Snap Seven-Month Losing Streak as Imports Surge
- Shipments increased 0.1% as imports jumped 6.7% in November
- Exports, imports both beat all 43 estimates in Bloomberg polls
China Trade Rebounds in November
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China’s exports gained, snapping a seven-month losing streak, as a cheaper yuan aided foreign purchasing. Imports jumped the most in more than two years on strong demand for raw materials from copper to iron ore.
The yuan has fallen 10 percent against the U.S. dollar since a surprise devaluation in August 2015 while remaining stable recently against a basket of currencies. The data suggest global demand is recovering even as the world’s largest exporter faces potential headwinds and policy uncertainty as U.S. President-elect Donald Trump prepares to take office Jan. 20.