China's exports in November shrank for the fourth consecutive month, unders...
BEIJING - China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand.
Overseas shipments fell 1.1% from a year earlier last month, customs data showed on Sunday, compared with a 1.0% expansion tipped by a Reuters poll of analysts and a 0.9% drop in October. China’s trade surplus for November stood at $38.73 billion, compared with an expected $46.30 billion surplus in the poll and a $42.81 billion surplus recorded in October.Beijing and Washington are negotiating a first phase trade deal aimed at de-escalating a trade dispute but they continue to wrangle over key details.
Top White House economic adviser Larry Kudlow said on Friday that a Dec. 15 deadline is still in place to impose a new round of U.S. tariffs on some $156 billion of China’s remaining exports to the United States, but the president likes where trade talks with China are going, he added. China’s trade surplus with the United States for November stood at $24.60 billion, according to Reuters calculations based on customs data, easing from the previous month’s surplus of $26.45 billion.
But falling industrial profits and factory prices suggest persisting downward pressure on the sector.
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