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9 Nov 2014
Reasonable export growth in China - RBS
FXStreet (Bali) - Over the weekend, we saw reasonable Chinese export growth and continued weak imports, reports the Economics Research Team at RBS.
Key Quotes
"Headline export growth remained quite high in October, although the data still seems to be inflated by over-invoicing and exports to developed countries are losing momentum."
"The specifics on the import side suggest that China’s domestic demand momentum has remained weak. In all, the trade data is in line with our economic outlook."
"Looking ahead, we expect macroeconomic policy to remain restrained. In our view , the considerable rise in the trade surplus will lead the PboC to allow the CNY to appreciate more against the USD."
Key Quotes
"Headline export growth remained quite high in October, although the data still seems to be inflated by over-invoicing and exports to developed countries are losing momentum."
"The specifics on the import side suggest that China’s domestic demand momentum has remained weak. In all, the trade data is in line with our economic outlook."
"Looking ahead, we expect macroeconomic policy to remain restrained. In our view , the considerable rise in the trade surplus will lead the PboC to allow the CNY to appreciate more against the USD."