China’s trade surplus falls to $16.9bn

http://www.bbc.co.uk/news/business-11530198

The gap between China’s imports and exports narrowed in September, official data has shown.

But analysts say the decline is unlikely to ease the pressure on Beijing to strengthen its currency.

The US has been among its strongest critics, claiming China deliberately undervalues the yuan, boosting China’s exports by making them cheap.

China’s trade surplus fell to a five-month low of $16.9bn (£10.7bn), down from $20bn in August.

Exports rose 25.1% year-on-year in September to $145bn, but the pace of growth was slower than the 34.4% growth seen in August.

Imports rose 24.1% year-on-year to a record high of $128.1bn, compared with August’s growth of 35.2%.

Advertisements

Household finance under pressure in August

http://www.bbc.co.uk/news/business-11053227

Household finances came under pressure on all fronts in August, according to market researchers Markit and YouGov.

Their survey of 2,000 households showed people were increasingly worried about losing their jobs and higher costs of living.

The Household Finance Index suggests individuals are feeling few benefits from the growing economy.

Some 30% of polled households said their finances had worsened, compared to 6% who said they had improved.

Nearly 69% of respondents reported a rise in the price of their goods and services in August from July, the highest level since the survey began 18 months ago.

Tim Moore, economist at Markit, said: “Stronger growth in the UK economy has done little to put a floor under the downturn in household finances.”