Lower Holiday Demand Hits Mainland Exports

Mainland exports growth in November year on year slowed unexpectedly as shipment to Europe and U.S.A. fell amid falling holiday demand.  The sharper-than-expected growth and flatlining import expansion could prompt Beijing to maintain policies to support growth, even after the healthy industrial production and investment data released on Sunday boosted confidence in the economy.

 

Customs bureau data showed exports in November climbed 2.9% from a year earlier, sharply below the 11.6% growth in October and 9.9% in September.  Imports were unchanged as commodity prices fell and excess capacity in some industries capped demand.

 

Exports to the European Union fell 18% in November from a year earlier, whilst those to the US fell 2.6% after rising 9% in October.

 

~ SCMP, December 11, 2012 ~

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