MW: China trade surplus, exports growth disappoint
By V. Phani Kumar
HONG KONG (MarketWatch) -- Chinese export- and import-growth rates cooled off in November, leading the nation's monthly trade surplus to shrink sharply to $19.6 billion, according to official data released Monday. November exports grew 2.9% from the year-ago period, far lower than the 11.6% expansion recorded in October, and widely missing the 10% growth anticipated in a FactSet survey of economists. The value of imports was unchanged from the year-ago period, versus a 2.4% growth in October and forecasts for a 1.9% increase. The monthly trade surplus of $19.6 billion fell significantly below FactSet estimate for a $25 billion surplus. Economists polled by Dow Jones Newswires had projected exports growth of 9.6%, imports growth of 1.9%, and a trade surplus of $27.8 billion during the month.
