BEIJING —China's exports in January surged beyond expectations, indicating that fears of a slowdown in the world's second-largest economy may be fading.
On Friday, the Chinese government released a raft of trade data suggesting that earlier signs of economic rebound in China were not an aberration. Leading the figures, China's foreign trade in January grew by 26.7 percent over the same month last year, following much more moderation growth of 10.1 percent year-on-year in December, according to the country's General Administration of Customs. Exports rose by 25 percent, while imports were up by 28.8 percent the customs agency said, boosting the level of overall foreign trade growth.
China's measure of the trade surplus widened by 7.7 percent, but there should be some adjustment for the Lunar New Year holiday, which fell in January last year and February this year. The month often brings strong retail growth but a noticeable slowdown in production and factory output. RELATED STORY: Wage Inflation Sweeps Southeast Asia >>
The customs agency said exports were up significantly both to the United States and Europe in January over the same month last year, continuing a series of indicators that China's manufacturing industry is picking up after months of sluggish growth and stalled output. But the pickup in not just due to a rise in demand from the US and Europe. Exports to Southeast Asian countries rose by 48.6 percent, the customs agency said.
At the same time, the central government said domestic consumer inflation had slowed in January to 2 percent, well below what the government considers and acceptable level of growth in consumer prices. The People's Bank of China has warned inflation could rise more than 3.5 percent by the end of the year.
Breaking: @cushnieetochs’ co-founders @carlycushnie and @ochsmichelle are parting ways. After a 10-year run, Ochs is leaving the brand. Get the full story on WWD.com – link in bio. #wwdnews #wwdfashion
@maybelline’s Kanako Takase had snow bunnies in mind when creating the beauty look for @philipppleininternational. Playing off of the bedazzled snowboards in the collection, Takase mixed two highlighters together for a luminous sheen. #wwdbeauty #nyfw (📷: @jilliansollazzo)
“There’s a huge gap between the old way of doing things and today. It takes the youth to help evolve that. You have to count on the kids today to help lead you into the future. A lot of these retailers are stuck in the past. Communication is the biggest thing,” said @ronniefieg of @kith on the youth’s role in retail. On Monday night, Jeff Staple moderated a keynote session with Fieg and @syresmith at Assembly - a series of workshops, talks and keynotes addressing topics or issues in the apparel industry. Head to WWD.com to read more advice from Fieg and what Smith thinks of his dad @willsmith’s Instagram account and sustainability (📷: @weston.wells)
@joansmalls closed the @michaelkors fall 2018 show in black sequined pants and a varsity T printed with 19 on the front and 81 on the back. 1981 – the year Kors went into business. #wwdfashion #nfyw (📷: @giovanni_giannoni_photo)
“You think your life is going to be a certain way, and nothing you thought would happen ends up happening. Never in my wildest dreams did I think I’d be designing clothes and working with Mickey Drexler, and building something I’m deeply proud of,” said Jenna Lyons. Nine months after leaving @jcrew, Lyons is exploring the meaning of happiness. Read the interview, where Lyons talks about reinvention and more on WWD.com – link in bio. #wwdfashion (📷: Farrell) #jennalyons #jcrew