China came out with fresh trade data today.
The insta-summary is that export growth was weak while import growth was solid.
Here are Nomura’s bullets describing the numbers:
- Export growth fell to 4.3% y-o-y in December, weaker than expected and down from 12.7% in November.
- Import growth rose to 8.3% y-o-y was stronger than expected, up from 5.3% in November.
- We expect China to continue to face capital inflow pressures in Q1 2014.
And here’s the chart: