Chinese exports are believed to have grown for a second month in December, following a sustained lull marked by the country's first drop in annual exports in seven years.
China s exports likely grew more quickly and for a second month in December, a Reuters poll showed, adding to signs global trade is starting to recover thanks to an upturn in the electronics. -January 10, 2024 at 12:13 am EST
- MarketScreener
China's exports likely grew more quickly and for a second month in December, a Reuters poll showed, adding to signs global trade is starting to recover thanks to an upturn in the electronics industry and expectations of lower borrowing costs in 2024. Outbound shipments from the world's second-largest economy are expected to have risen 1.7% in December from a year earlier, after ending a seven-month slump and growing 0.5% in November, according to the median forecast of 32 economists polled. Global trade slowed in 2023 as higher interest rates in the United States, Europe and other major consumer markets crimped demand.
Global sea freight prices began the year with significant jumps, reaching record levels not seen since the end of November 2022. It comes amidst a series of increases in prices during the last quarter, thus ending the downward trend witnessed last year.