China’s exports likely grew solidly in December but at a slower pace than in the previous month, as demand from its coronavirus-hit trading partners cooled, while imports held steady, a Reuters poll showed on Monday.
Exports likely rose 15% from a year earlier, according to a median forecast in a Reuters poll of 25 economists, cooling from a 21.1% jump in November.
“We think the recovery of global growth in previous months has likely continued to support export growth, but the higher demand for consumer goods before the holiday season may have unwound in December, which could be a small drag to export growth in December,” Goldman Sachs economists said in a note to Reuters.
Imports likely rose 5% in December versus a year ago, the poll showed, still at a moderate pace but marginally higher than 4.5% in the previous month. China’s trade surplus is expected to have narrowed a bit to $72.35 billion in December from $75.40 billion in November, according to the poll. The data will be released on Thursday.