"China's exports unexpectedly contracted in October as global demand failed to offset the deepening slump in shipments to the US, dealing a blow to an economy already slowing amid sluggish consumer spending and investment at home. Exports fell for the first time in eight months, dropping 1.1% from a year earlier, according to official data released Friday. Shipments to all nations except the US rose 3.1%, not enough to compensate for the more than 25% decline to America."
"I mostly put this here to contrast with the post from earlier this week about how Chinese exports have grown. The growth is based on quarterly data and this Bloomberg chart on a drop is based on monthly data. Neither are wrong. They just use different angles."
China's exports contracted in October, marking the first decline in eight months with a 1.1% year-on-year drop. Shipments to the United States plunged by more than 25%, overwhelming a 3.1% rise in exports to other nations. The export slump coincides with sluggish consumer spending and weak investment domestically, adding pressure to an already slowing economy. Different data horizons produce different impressions: quarterly aggregates can show growth while monthly figures reveal short-term declines. Both monthly and quarterly measures can be accurate but reflect different timeframes and volatility in trade flows.
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