1. Exports decline just a blip
China’s export growth slowed in November, missing expectations and growing by 6.7 per cent year on year to US$312.31 billion.
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Zichun Huang, China economist at Capital Economics, estimated that growth in export volumes also slowed sharply, and after accounting for changes in export prices and for seasonality, he estimated that export volumes also softened.
“Export growth slowed sharply last month, but we doubt this signals the end of China’s recent export boom,” Huang said.
“We expect exports to accelerate again in the coming months, supported by gains in export competitiveness and exporters front-running tariffs.”
Analysts at Goldman Sachs said the moderation of export growth was likely due to softened external demand from some trading partners, including Latin America and the European Union.
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