Trade
China’s Import Surprise Offers Hope as Recovery Risks Linger
- Imports increased 3%, bucking forecast for a decline
- Exports’ worse-than-expected drop adds to mixed signals
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China’s trade data for October offered a mixed picture for the economy’s outlook, as an unexpected pickup in imports was offset by signs that global demand for Chinese goods is struggling to gain traction.
Imports rose 3% from a year earlier last month, the first gain in eight months and bucking the consensus forecast for a drop. Overseas shipments dropped 6.4%, worse than expectations. The resulting trade surplus was $56.5 billion.