Despite Slow Export Growth, China Economic Outlook Upbeat
China's export growth slowed in October, but it still above expectations, thanks to strong global demand for the holiday season, improving power shortages, and fewer supply chain interruptions, which helped the world's second-largest economy weather some headwinds.
Imports, on the other hand, fell short of analysts' predictions, indicating a general weakening in domestic demand. Outbound exports increased 27.1 percent from a year ago in October, slightly slower than September's 28.1 percent increase.
"Now that exports provide a buffer to cushion the economic slowdown, the government can afford to wait until the end of the year to loosen monetary and fiscal policy," he said. Manufacturing appears to be slowing, according to recent data.
According to an official poll, factory activity fell for the second month in a row in October, with industrial output growth slowing to its lowest level since March 2020 - the first wave of the pandemic. However, in recent weeks, certain supply limitations have begun to improve as a result of strong government intervention.