Economy

xchrom

(108,903 posts)

42. China August exports beat forecasts, point to stabilization

Sun Sep 8, 2013, 06:25 AM

Sep 2013

http://www.reuters.com/article/2013/09/08/us-china-economy-trade-idUSBRE98702A20130908

(Reuters) - China's exports rose more than expected in August, boosted by improving demand for the country's goods in major markets and adding to evidence that the world's second-largest economy may have avoided a sharp slowdown.

The Customs Administration said on Sunday that exports rose 7.2 percent in August from a year earlier and imports rose 7 percent, leaving the country with a trade surplus of $28.6 billion for the month.

The figures compared with market expectations in a Reuters poll of a rise of 6 percent in exports, an 11.3 percent rise in imports and a trade surplus of $20 billion.

"China's August trade sustained the upward trend seen since July, in line with accelerating growth momentum and improving market sentiment, pointing to an upside bias in Q3 GDP growth," ANZ economists Liu Li-Gang and Zhou Hao said in a note after the data.

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