Friday, December 11, 2009

Not Buying it....China Exports Numbers

China’s Exports Fall at Slower Pace as Global Demand Recovers Dec. 11 (Bloomberg) -- China’s exports fell at a slower pace in November as global demand began to recover from the financial crisis.
Shipments slid 1.2 percent from a year earlier, the customs bureau said on its Web site today, after falling 13.8 percent in October. The median forecast in a Bloomberg News survey of 26 economists was for a 1.4 percent increase. The trade surplus was $19.09 billion, today’s data showed, compared with $23.99 billion in October.

Note the headline vs the relevant info; exports down 1.2% vs. expectations of UP 1.4%. The comparison to last year is of course to the max paralysis point in the credit collapse. Not exactly impressive. Wait till Christmas is over.  You could hear the nervous tremors in the voices of the Bloomberg Asia correspondents  cheerleaders as they reported it around 10pm EST. " Everyone knows the China story is a growth story" Or something like that.

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