Photo: Stuck in Customs on flickr
Some surprising data out of China to start the new week: The country’s trade surplus for December came in at about $13 billion, which is way lower than the $20+ billion that had been expected.In the previous month the surplus was $23 billion.
Perhaps in a worrisome sign of global demand, this was not a reflection of a major spike in imports — rather exports grew at just a 17.7% pace compared to expected growth of 23.3%. Naturally, as noted by ForexLive, there will be some debate about the veracity of the data, because it’s China.
Shanghai shares have turned lower on the news, though only by 0.3%. Other markets haven’t moved much.
It will be very interesting to unpack the next trade data from the US to get further colour on what’s going on between the two nations.