Chinese exports down as September sees strong demand and inflation
(National Bureau of Statistics of China)
With Chinese trade data coming in overnight, optimistic economic expectations continue to be reflected in results, with September imports rising to 7.4 per cent, exceeding expectations of 7.0 per cent. Despite healthy demand, however, export growth dropped sharply by 0.3 per cent from August's 7.2 per cent.
Inflation for September rose, with the consumer price index increasing to 0.8 per cent for the month, following expectations it would remain unchanged at 0.5 per cent. Year-on-year, it was up 3.1 per cent, after expectations of 2.9 per cent. This unexpected increase was driven in the main by high food prices, which saw a 6.1 per cent increase in September.