Analysts at TDS offer a sneak peek at what to expect from today’s China trade report due on the cards any time soon.
Key Quotes:
Our models utilizing 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:
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