Offshore Capitalist

Strong China trade figures point to recovery

BEIJING (Reuters) – China reported surprisingly strong trade figures on Wednesday, providing fresh evidence that the world’s third-largest economy is firmly on a recovery track and that global demand is improving too.

Exports in September fell 15.2 percent from a year earlier, beating forecasts of a 21 percent fall, while imports fell just 3.5 percent — well short of expectations of a 15.3 percent decline, the General Administration of Customs said.

Brian Jackson, an economist at Royal Bank of Canada in Hong Kong, said the slower pace of decline was good news for China’s recovery because growth this year has depended too much on the government’s 4 trillion yuan ($585 billion) stimulus package.

Indeed, after adjustments to take account of the number of working days in each month, exports rose 6.3 percent in September from August and imports rose 8.3 percent, Customs said.

“Stronger external demand will provide an alternative source of support for growth and provide scope for Beijing to start tightening policy gradually from early 2010,” Jackson said.

via Strong China trade figures point to recovery – Yahoo! News.

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