China’s Export Decline Slows

China’s export decline slowed to 15.2% YoY in September from 23.4% in August and 21% consensus. Positive surprise, but still far away from +25% pre-crisis  levels. As usual equities and commodities are trading higher on the news; U.S. dolar lower.

Chart 1. Chinese Export Growth YoY

China Export Growth 14102009

Source: Bloomberg

My short crude oil trade performing poorly at the moment, will decide what to do after the Energy Information Administration (EIA) petroleum stats tomorrow if  it isn’t closed by then on outstanding stop loss order.

The U.K. job benefits rose 20,800  vs. 24,500 consensus. A notable slowdown. Bloomberg story: U.K. Unemployment Rises Least in a Year as Slump Ebbs.

Largest world spirits company in the world Diageo reported earnings. Falling revenue is the game even in one of the anti cyclical industries out there.  Reuters story: Diageo’s Q1 sales dip 6 pct, sending shares lower.

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This entry was posted on Wednesday, October 14th, 2009 at 6:21 am and is filed under Markets. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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