China September imports surpass expectations

China September imports surpass expectations

In September, China's imports and exports inched up at a faster tempo than in the previous month, thus hinting that the world's number two economy is still extending at a healthy clip notwithstanding numerous forecasts of an eventual slowdown.

Imports in greenback-denominated terms tacked on 18.7% in September from 2016, surpassing experts’ estimates for a 13.5% expansion and speeding up from 13.3% in August, as customs data disclosed on Friday.

The revenue appeared to be firmer than the most optimistic estimates in a Reuters analysts survey.

Exports edged up 8.1% versus estimates of 8.8%, although surpassing August's 5.5%.

The firm September readings are going to be welcome news for China ahead of a crucial political leadership reshuffle next week, suggesting that President Xi Jinping will further tighten his grip on power.

China's imports were mainly led by industrial resources because a year-long construction boom offers no signs of flagging, spurring demand for materials from copper to steel.

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ECB Meeting & Press Conference

Meetings of the European Central Bank tend to have a great impact on the euro. The regulator will announce its rate decision at 14:45 MT time on December 14. 

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