China: Robust trade and rising prices – DBS
DBS Group Research expects China’s exports to grow 25.7% year-on-year in September, supported by strong electronics demand and improving manufacturing PMIs.
China's exports are projected to expand by 25.7% year-on-year in September, driven by robust demand for electronics and improving manufacturing PMIs. The report highlights a rebound in factory-gate and raw material prices, with the consumer price index (CPI) inflation expected to rise slightly to 1.0% but still restrained by weak domestic demand.
Both official and Caixin manufacturing PMIs surpassed the 50 expansion mark, signaling stronger manufacturing activity. External trade indicators have also shown improvement, with freight activity increasing as international cargo flights grew. Downstream consumer price pressures are anticipated to remain relatively limited under the pricing-band mechanism, keeping CPI inflation modest.
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