{"id":951,"date":"2023-05-09T13:58:32","date_gmt":"2023-05-09T13:58:32","guid":{"rendered":"https:\/\/kme.com.cy\/?p=951"},"modified":"2023-05-09T13:59:50","modified_gmt":"2023-05-09T13:59:50","slug":"chinas-exports-rose-8-5-continuing-its-growth-streak-at-a-slower-pace","status":"publish","type":"post","link":"https:\/\/kme.com.cy\/?p=951","title":{"rendered":"China\u2019s exports rose 8.5%, continuing its growth streak at a slower pace"},"content":{"rendered":"<ul>\n<li>China\u2019s exports grew 8.5% in April in U.S. dollar terms, marking a second-straight month of growth.<\/li>\n<li>Economists polled by Reuters estimated exports would rise 8% in April, while imports were forecast to remain unchanged.<\/li>\n<li>China\u2019s inflation is expected to slow down to a 0.3% rise year-on-year in prices when the data is released on Thursday, according to a Reuters poll.<\/li>\n<\/ul>\n<p>China\u2019s exports grew 8.5% in April in U.S. dollar terms, marking a second-straight month of growth, while imports fell 7.9% compared with a year ago.<\/p>\n<p>Economists polled by Reuters estimated exports would rise 8% in April, while imports were forecast to remain unchanged. In March, imports declined 1.4% year-on-year while exports saw a surprise jump of 14.8%, government data showed.<\/p>\n<div class=\"group\">\n<p>China\u2019s trade surplus grew to $90.21 billion in April, up from the surplus of $88.2 billion in March.<\/p>\n<p>Softer trade data in April is likely to reflect \u201cresidual seasonality\u201d after this year\u2019s Lunar New Year, economists at Goldman Sachs said in a Monday note.<\/p>\n<p>Goldman Sachs economists expected to see \u201cthe dissipation of this seasonal bias to slow export growth in April,\u201d they wrote in a note earlier this month previewing China\u2019s trade data.<\/p>\n<p>Recent economic data released from the world\u2019s second-largest economy showed that\u00a0<a href=\"https:\/\/www.cnbc.com\/2023\/05\/05\/chinas-service-sector-caixin.html\">China\u2019s service sector remained a bright spot<\/a>\u00a0despite disappointing factory data.<\/p>\n<p>The\u00a0<a href=\"http:\/\/www.stats.gov.cn\/sj\/zxfb\/202304\/t20230429_1939136.html\" target=\"_blank\" rel=\"noopener\">National Bureau of Statistics\u2019 manufacturing purchasing manager\u2019s index<\/a> reading missed expectations and fell into contraction territory with a reading of 49.2 in April from March\u2019s reading of 51.9.<\/p>\n<p>\u201cChina is past the fastest stage of its reopening,\u201d Goldman Sachs economists wrote in a separate Friday note. It reiterated its forecast for China\u2019s economy to see full-year growth of 6% in 2023.<\/p>\n<p>\u201cRecent meetings with clients in the mainland suggest gradually fading pessimism on near-term growth, but some concern around deflationary pressures, though in our view this is not a major risk for 2023-24,\u201d they wrote.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">Inflation ahead<\/h2>\n<div class=\"group\">\n<p>China\u2019s inflation data is slated for release Thursday. Economists expect inflation slowed to a 0.3% year-on-year rise, according to a Reuters poll.<\/p>\n<p>Month-on-month, prices are predicted to remain flat, according to the survey.<\/p>\n<p>The economy\u2019s producer price index is forecast to mark its seventh-straight month of declines after the index fell 2.5% in March. Economists polled by Reuters expect to see a drop of 3.2%.<\/p>\n<p>\u201cCentral bankers in China seemed to have little concerns about deflation, judged by the PBoC quarterly monetary policy reports and meeting minutes,\u201d BofA Global Research economists including Helen Qiao wrote in a note, adding that officials seem confident in a rebound for inflation ahead.<\/p>\n<p>BofA economists said they \u201cexpect inflationary pressure to rise as the output gap narrows in 2H23, especially\u00a0on the back of a new credit cycle kicking off.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>China\u2019s exports grew 8.5% in April in U.S. dollar terms, marking a second-straight month of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rs_blank_template":"","rs_page_bg_color":"","slide_template_v7":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-951","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>China\u2019s exports rose 8.5%, continuing its growth streak at a slower pace | KME Chartered Accountants<\/title>\n<meta name=\"description\" content=\"China\u2019s exports grew 8.5% in April in U.S. dollar terms, marking a second-straight month of growth. 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