China’s imports showing downwards trends after New Year celebrations
CHINA’s exports rebounded after Chinese New Year, but imports continued to slide, Bloomberg reports.
Exports jumped 14.2 per cent in March from a year earlier while imports fell 7.6 per cent in dollar terms, the customs administration said Friday. That left a trade surplus of US$32.65 billion, with the bilateral surplus with the US rising to $20.5 billion in the month from $14.7 billion in February.
China’s more positive sales abroad are a tentative sign of resilience in the global economy amid further signs of trade tensions, though the data would have been heavily influenced by seasonal and price factors.
China’s import slowdown suggest growth reduction
The continued slump in imports though suggests slow growth for the domestic economy as it seeks a rebound from bruising recent quarters.
“We still expect the first quarter marks the low point with more stimulus to filter through,” said Patrick Bennett, head of macro strategy for Asia at Canadian Imperial Bank of Commerce in Hong Kong.
“Global demand looks okay based on these numbers and central banks’ less restrictive stance will help,” he said.
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