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China's Trade Balance missed market forecasts

Wednesday, Nov 08 2017
China's Trade Balance missed market forecasts

China's exports and import growth eased in October in a sign the world's second-largest economy is starting to cool after a strong first half, with momentum seen slackening further as Beijing's crackdown on pollution hits factory output. The trade data also showed China's goods surplus with the United States, historically a sore spot in relations between the two nations, narrowed last month as investors awaited U.S. President Donald Trump's arrival in Beijing later in the day. The nation's overall trade surplus for October was $39.17 billion, according to a Reuters calculation of data from the Administration of Customs. Expectations centered on a surplus of $39.5 billion versus September's $28.61 billion.

October exports rose 6.9 percent from a year earlier in dollar terms, slightly lagging analysts' forecast of a 7.2 percent increase, compared to 8.1 percent growth in September, official data showed on Wednesday. Imports grew 17.2 percent year-on-year in October, beating forecast of 16.0 percent growth but slightly slower than the 18.7 percent rise in September. Taken together, analysts say, the numbers reinforced recent signs of a cooling in economic momentum as the war on smog and tighter rules to reduce China's years-long addiction to debt drags on overall activity.

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