This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-20968085
The article has changed 4 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| China's surprisingly strong trade data fans optimism | China's surprisingly strong trade data fans optimism |
| (35 minutes later) | |
| China has reported better-than-expected trade data, adding to optimism that growth in the world's second-largest economy may be rebounding. | China has reported better-than-expected trade data, adding to optimism that growth in the world's second-largest economy may be rebounding. |
| Exports, a key driver of expansion, rose 14.1% in December from a year earlier. Most analysts had forecast a figure closer to 4%. | Exports, a key driver of expansion, rose 14.1% in December from a year earlier. Most analysts had forecast a figure closer to 4%. |
| Imports also rose, climbing 6% and indicating stronger domestic demand. | Imports also rose, climbing 6% and indicating stronger domestic demand. |
| There have been worries about the state of China's economy after growth fell to a three-year low. | There have been worries about the state of China's economy after growth fell to a three-year low. |
| "The export data especially is very good news as it shows that external demand for Chinese products is picking up," Dariusz Kowalczyk, a senior economist at Credit Agricole-CIB in Hong Kong, told the BBC. | |
| "A slowdown in global demand had been one of the biggest concerns for China, and this does help alleviate some of those fears." | "A slowdown in global demand had been one of the biggest concerns for China, and this does help alleviate some of those fears." |
| 'Regained momentum' | |
| China's slowdown, which saw growth decline to 7.4% in the July-September quarter, has hurt various sectors of the economy. | |
| However, in recent weeks China has released a string of encouraging economic data which showed that a pick up in November continued into December. | |
| Manufacturing activity in China expanded for a third month in a row in December. At the same time, the country's services sector, which includes construction and accounts for nearly 43% of China's overall economy, expanded at its fastest pace in four months in December. | |
| Industrial production, retail sales and fixed-asset investment were all up in November, while new home prices rose in 53 out of 70 major cities in China in November, from the pervious month. That was up from 35 cities which recorded price rises in October. | |
| Credit Agricole-CIB's Mr Kowalcyzk said these numbers coupled with the latest data "confirm that the Chinese economy has regained momentum". |