Skip to main content

Chinese Exports Fall 22.6% in April

Exports from mainland China slumped 22.6 percent in April from a year earlier, official statistics showed — a fall that was not only larger than economists had expected but also bigger than that in March, when overseas shipments declined 17.1 percent.
However, there are some bright side too. Investment in real estate, one of the main forms of private-sector investment in China, was up only 4.9% from a year earlier in the January-April period, compared to overall growth of 30.5% in the four-month period. Still, it's an improvement from even weaker growth in previous months, and comes as purchases of housing and other property pick up. The volume of real estate sales jumped 39% from a year earlier in April after 16.4% growth in March, reversing several months of decline.
There are other indicators of improving domestic demand. China's total imports dropped 23% to $78.8 billion in April, little better than March's 25.1% decline. But in volume terms, purchases of key commodities accelerated. China's net imports of crude oil rose 13.7% from a year earlier in April, after a 6.3% drop in March, customs data showed. Imports of iron ore also surged 33% from a year earlier to a fresh monthly record of 57 million metric tons.

Comments

Post a Comment

Popular posts from this blog

RBS picks up 0.60% stake in Gateway Distriparks

The Royal Bank of Scotland (RBS) has picked up 0.60% stake in logistic services provider -- Gateway Distriparks. The bank has bought 6.40 lakh shares in the company for a total consideration of Rs 8.32 crore. Gateway Distriparks, incorporated in 1994, is engaged in the business of warehousing, container freight stations, providing handling and clearance of sea borne export-import trade in containerized form.
Post a Comment
Read more

Day End Report

The Sensex opened with a huge downward gap of 250 points at 13,856, and soon touched a low of 13,731. Another rise in repo rate and Cash Reserve Ratio by the RBI sparked off heavy sell-off in opening trades. However, fresh buying at lower levels helped the index recover all its losses by mid noon trades. A fresh round of buying in late trades saw the index surge to a high of 14,249 - up 518 points from the days low. The Sensex finally settled with a gain of 113 points at 14,220. The NSE Nifty ended with a gain of 60 points at 4,251. The market breadth was marginally positive- out of 2707 stocks traded, 1,370 advanced, 1,264 declined and 73 were unchanged today. Reliance Communications (RCom) zoomed 7.2% at Rs 509. Tata Steel surged 4.5% at Rs 743. DLF and Reliance Infra gained 4.2% each at Rs 458 and Rs 945, respectively. TCS and Bharti Airtel advanced 4% each at Rs 877 and Rs 780, respectively. Ranbaxy was up 3.8% at Rs 545. BHEL gained 3.7% at Rs 1,442. Reliance advanced 3.4% to Rs 2...
Post a Comment
Read more

Auto industry records highest-ever sales in Jan

Riding on the back of economic growth, easy availability of finance and the continuing fiscal stimulus, the domestic auto industry has posted the highest ever monthly sales in January. The strong growth is both in terms of passenger car volumes and the total vehicle sales. According to Society of Automobile Manufacturers (SIAM) data, the passenger car segment has posted a 32 per cent growth in domestic sales at 145,905 units in January, over the same month last year. The last highest-ever monthly sales in the segment were in March 2009, when it sold 129,358 units. Meanwhile, overall sales across the industry grew 45 per cent at 1,114,157 units. The earlier record of highest ever monthly sales was in October 2006, when the industry had sold 1,017,198 units. Individually, the umbrella passenger vehicle segment posted a 37 per cent growth, while the commercial vehicle (CV) segment grew 131 per cent. Also, the two-wheeler and three-wheeler segments rose 43 and 47 per cent, respectively.
Post a Comment
Read more