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1. Exports buck trend, hit 17-month high
China’s exports rose 8.7 per cent from a year earlier to US$308.65 billion in August, beating the expected increase of 7.04 per cent surveyed by Chinese financial data provider Wind, and topping the 7 per cent increase in July.
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Year-on-year export values in August grew at the fastest pace in 17 months, and export volumes hit record highs, according to Zichun Huang, China economist at Capital Economics.
“Exports remained strong in August,” said Zhang Zhiwei, president and chief economist at Pinpoint Asset Management. And ING’s chief economist for Greater China, Lynn Song, said “exports defied expectations”.
“While trade data is difficult to forecast, the upside miss is still notable as the direction was different than expected,” Song said.