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Chinese January export data reflects strong economy
08-02-2013 08:14
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The Chinese trade surplus decreased less than expected during the month of January, to reach a level of 29.2bn dollars, versus the previous month's level of 31.6bn dollars.
The consensus estimate had been for a reading of $26.6bn.
Exports grew at a 25% year-on-year rate during the month of January (Consensus: 17.5%), while imports did so by 28.8% (Consensus: 23.5%).
For analysts at Nomura these strong export numbers cannot be fully explained by the Chinese New Year effect alone (Chinese New Year fell in January last year and occurs in February this year). In their opinion, rather, these data suggest that external and domestic demand are both strong.
AB
The consensus estimate had been for a reading of $26.6bn.
Exports grew at a 25% year-on-year rate during the month of January (Consensus: 17.5%), while imports did so by 28.8% (Consensus: 23.5%).
For analysts at Nomura these strong export numbers cannot be fully explained by the Chinese New Year effect alone (Chinese New Year fell in January last year and occurs in February this year). In their opinion, rather, these data suggest that external and domestic demand are both strong.
AB
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