China June trade balance ¥345.2 billion vs ¥278.5 billion expected

News

China releases its trade data for the month of June

  • Prior ¥279.1 billion
  • Exports (yuan terms) +6.1% vs +6.9% y/y expected
  • Prior +7.7%
  • Imports (yuan terms) -0.4% vs +3.7% y/y expected
  • Prior -2.5%
  • Trade balance $50.98 billion vs $45.00 billion expected
  • Prior $41.65 billion; revised to $41.66 billion
  • Exports (dollar terms) -1.3% vs -1.4% y/y expected
  • Prior +1.1%
  • Imports (dollar terms) -7.3% vs -4.6% y/y expected
  • Prior -8.5%

ForexLive

The individual monthly data here matters little now after China has released the 1H 2019 report earlier in the past hour. Of note, domestic demand continues to be subdued for the month of June and much like the earlier report that’s suggestive of slightly softer consumption/domestic conditions which should be reflected in next Monday’s GDP data as well. The expectation for that is for Q2 GDP to slow to its weakest annual pace since Q1 1992, posting a growth of 6.2% y/y.

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