China Export Machine Delivers Again in Prop for Growth: Economy


The World At Work 2012 Best Photos By Bloomberg

By Bloomberg News

China’s export machine remained a prop for the world’s second-biggest economy as overseas shipments climbed more than economists estimated last month.

Exports (CNFREXPY) rose 9.7 percent in December from a year earlier, exceeding the 6 percent median estimate in a Bloomberg News survey. Imports fell 2.4 percent, compared with projections for a 6.2 percent decline, leaving a trade surplus of $49.61 billion, the customs administration said in Beijing.

An economic revival in the U.S. is bolstering China’s factories even as demand at home is weighed by a property slump and spare capacity. Gross domestic product climbed 7.4 percent last year, the slowest expansion since 1990, economists project.

“China’s exports will be enough to provide support for overall growth, but won’t be strong enough to spark a rebound,” said Li Miaoxian, Beijing-based economist at Bocom International Holdings Co. “The better-than-expected performance of imports (CNFRIMPY) showed China’s domestic demand isn’t that weak — in fact, it’s quite stable if the distortion from the oil price fall is excluded.”

“Read the Full Article at >>>>”

Comments Closed