China just gave the clearest signal yet that its economy is bouncing back

 

News By : Vindication Recovery Services

If there was any doubt the Chinese economy is humming again, it’s surely been dispelled Wednesday.
Chinese trade data has beaten across the board in October, a good sign for not only its economy but global demand as a whole.

According to China’s General Administration of Customs, the value of both imports and exports increased from a year earlier in US dollar terms, the first time that’s been seen since October 2014.
Exports increased by 0.1%, an improvement in the 7.3% decline seen in the 12 months to October and stronger than the 5.0% contraction expected.

It was the first time since March this year that the value of exports increased in year-on-year terms.
In yuan-denominated terms, and reflective of the strength in the US dollar over the past year, the value of exports grew by a stronger 5.9%.

The news was even better on the other side of the ledger with the value of imports increasing by 6.7% from a year earlier, the fastest expansion reported since September 2014.

In yuan-denominated terms, that figure swelled to 13% over the same period.
In volume terms, copper, crude oil, iron ore and coal imports all surged, partially in response to the Golden Week holiday in early October.

Copper imports jumped to 380,000 tonnes, up from 290,000 tonnes in October, while crude oil imports surged to 32.35 million tonnes from 28.79 million tonnes reported previously.

Iron ore and coal imports increased to 91.98 and 26.97 million tonnes respectively, up from 80.8 and 21.58 million tonnes a month earlier.

With the value of imports slightly outpacing the increase seen in exports, the nation’s trade surplus narrowed to $US44.61 billion, down from $US49.06 billion in October.

Markets had been expecting the surplus to narrow to $US46.3 billion.

Source: businessinsider Posted By Vindication Recovery Services