Exports and imports for May coming up from China
I posted a first look preview here yesterday: Trade balance data fun not done - China to come on Friday (preview)
More Now, these via:
Barclays:
- Reflecting the upside surprise in NBS PMI trade-related indices, we expect trade data to remain resilient in May, with growth in exports and imports likely to come in at 12%, and 20%, respectively
TD:
- Our models utilising trade data from key trading partners and commodity prices, point to another healthy increase in imports in May, likely up 19.4% y/y following a 21.5% y/ y rise in April.
- Export growth is likely to be more moderate, with a less than consensus 10.1% y/y increase expected.
- Consequently the trade balance is likely to come in around USD 30bn in May.
TD's forecasts on the right, lower than market consensus for both imports and exports:
