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China November exports -1.1% year-on-year, imports +0.3% year-on-year

Added 12-07-19 11:03:02pm EST - “China's exports in November shrank for the fourth consecutive month, custom...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “China November exports unexpectedly fall, but imports rebound”. Below is an excerpt from the article.

BEIJING (Reuters) - China’s exports in November shrank for the fourth consecutive month, customs data showed on Sunday, confounding market expectations for a rise and underscoring persistent pressures on manufacturers from the Sino-U.S. trade dispute.

The 17-month long trade war has heightened the risks of a global recession and fueled speculation that Beijing will unleash more stimulus measures to prop up slowing growth in the world’s second-largest economy.

Overseas shipments fell 1.1% from a year earlier last month, data showed, compared with a 1.0% expansion tipped by a Reuters poll of analysts and a 0.9% drop in October.

Imports unexpectedly rose 0.3% from a year earlier, compared with a 1.8% decline forecast by economists and a 6.4% decline in October. This marks the first year-on-year growth since April.

Beijing and Washington continue to negotiate for a phase one trade deal aimed at de-escalating a trade dispute that has roiled global markets and stoked worries about a global recession. But they continue to wrangle over key details, including the extent of any rollback in tariffs by the United States and how much of agricultural products China will buy.

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