China August trade data, yuan terms:
China trade balance: +376.3bn yuan
- vs. expected CNY 495.5bn, prior was CNY 362.7bn
Exports +15.7% y/y:
- expected 22.5%, prior was 8.1%
Imports +23.1% y/y:
- expected 9.1%, prior was 16.1%
USD terms
China trade balance $58.3bn
- vs. expected $51.0bn, prior was $56.6bn
Exports +25.6% y/y:
- expected 17.1%, prior 19.3%
Imports +33.1% y/y :
- expected 26.8%, prior was 28.1%
The decent size beat in imports will be taken as indicative of the economy performing better than has been indicated by the recent run of data.
