Chinese economic data; Mobile phone sales
- Chinese trade surplus eases as imports surge. China recorded a trade surplus of US$20.03 billion in August – below forecasts centred on a result near US$26.9 billion. Exports were up 34.4 per cent on a year ago (consensus +35.0 per cent) and imports were up 35.2 per cent (consensus +27.5 per cent).
- Chinese property prices slow. Urban property prices rose by 9.3 per cent in the year to August, down from 10.3 per cent in the year to July and the 12.8 per cent peak in April.
- Mobile phone shipments (in effect, sales) sales have slumped due to seasonality factors. However a more smooth measure of activity would be a comparison of mobile phone shipments with the same period last year, which shows sales are down 9.5 per cent on a year earlier.