Joined Nov 11, 2007
31,929 Blog Posts

EM Worries Subside as China’s Exports Pop 10.6%

“BEIJING—China’s exports jumped unexpectedly in January, a potentially positive sign for the world’s second-largest economy even as it raised fresh doubts about the reliability of China’s trade data.

The country’s exports rose 10.6% compared with January last year, up from a 4.3% year-over-year rise in December, official customs data show. This is well ahead of the median 0.1% growth forecast by 11 economists polled by The Wall Street Journal and suggests a gradual recovery of demand in western economies is helping to boost China’s trade.

“These are very strong figures, mainly reflecting the recovery of developed nations, especially Europe, with exports to the European Union up more than 10%,” said Shen Jianguang, an economist at brokerage Mizuho Securities.

The strong performance comes as other data, including purchasing-managers indexes, suggested the crucial manufacturing sector may have slipped into contraction at the start of the year….”

Full article 

Despite fears subsiding the rally in Asia goes flat



If you enjoy the content at iBankCoin, please follow us on Twitter