China November trade balance: CNY +343.1bn

Why do we even call it a trade balance? Its a trade surplus .... this time for November

In CNY terms (we'll get the USD terms soon)

+343.1 bn

• expected 407.5bn
• prior was 392.2bn

Exports -3.7% y/y

• expected -2.9%
• prior was -3.6%

Imports -5.6% y/y

• expected -11.3%
• prior was -16.0%

Exports down again, not a good sign for the economy

Imports down again, but a beat on expectations, ... not as bad as expected