Tags: China | trade | import | export

China Trade Surplus Climbs to Record as Imports Drop in November

Monday, 08 Dec 2014 06:53 AM

China’s trade surplus climbed to a record in November after an unexpected decline in imports underscored weakness in the world’s second-largest economy.

Overseas shipments rose 4.7 percent from a year earlier, missing the 8 percent median estimate in a Bloomberg News survey. Imports fell 6.7 percent, compared with projections of a 3.8 percent increase, leaving a trade surplus of $54.47 billion, the customs administration said today.

China’s ruling Politburo last week said it will maintain a prudent monetary stance and keep growth within a reasonable range in 2015. The People’s Bank of China last month lowered lending and saving rates for the first time in two years and increased the ceiling for deposit rates.

“China’s economy is generally weak, with the fourth quarter hardly improving from the third one,” Larry Hu, head of China economics at Macquarie Securities Ltd. in Hong Kong, said before today’s data release. He added that the new export orders sub-index in the manufacturing PMI released earlier this month signaled slower export growth.

The government’s Purchasing Managers’ Index fell to an eight-month low of 50.3 in November, data last week showed. Readings above 50 indicate expansion.

China’s economy is headed for its slowest full-year expansion since 1990.

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Economy
China's trade surplus climbed to a record in November after an unexpected decline in imports underscored weakness in the world's second-largest economy.
China, trade, import, export
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2014-53-08
Monday, 08 Dec 2014 06:53 AM
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