China ‘cautiously optimistic’ about economy in 2013

After a challenging last half of 2012, Chinese manufacturing and exporters are “cautiously optimistic” for 2013, according to a new survey produced by the trade magazine Global Sources.

The survey indicates that optimism for new orders is higher than it was six months ago, but still down from a year ago.

“87 [percent] of surveyed exporters expect their exports to remain stable or increase in 2013, as compared to 74 percent six months ago,” Global Sources editor Meghla Bhardwaj told The Daily Caller News Foundation.

“A year ago, 98 percent of suppliers projected their exports would remain stable or increase,” Bhardwaj added.

The survey notes that some suppliers would probably have much larger increases in exports than others.

“For many of these suppliers, the increase will be between 10 and 20 percent, although some foresee a 21 to 30 percent jump,” the survey says.

“China’s export value has been climbing steadily [over the past few months] …with September figures rising at the fastest pace in three months. October numbers showed further growth, posting a five-month high of 11.6 percent,” the survey adds.

Many look to China as a global economic indicator, because of its large manufacturing and supply exports. An increase of orders in China signals that other countries are buying.

“As the majority of [Chinese] suppliers export to the U.S. and Europe, this could indicate that consumer demand in the U.S. and Europe is picking up,” Bhardwaj told The DCNF. “Another reason behind the positive outlook could be suppliers’ confidence in rising orders from emerging markets, such as South America and Asia.”

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