© Reuters.
Investing.com– China’s trade balance grew more than expected in November, aided by a surprise rise in exports as they snapped a six-month losing streak, although an unexpected drop in imports still indicated continued weakness in local demand.
The country’s grew to $68.39 billion in November from $56.53 billion in the prior month, data from the Customs Administration showed on Thursday. The reading was more than expectations for a surplus of $58 billion.
The trade balance also improved from its worst level in over a year.
grew 0.5% in November from the prior year, beating expectations for a drop of 1.1% and improving from the 6.4% drop seen in October. Chinese exports also grew for the first time since April this year.
The reading showed that Chinese businesses saw some improvement in overseas demand, even as economic conditions in the country’s biggest export destinations continued to deteriorate.
Official data released last week showed that Chinese business activity was also declining due to weak overseas demand. But had shown some signs of improvement in offshore orders.
But despite the mild improvement in exports, Thursday’s…
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