China import surprise first gain in eight months

Beijing | China's trade data for October offered a mixed picture for the economy's outlook, as an unexpected pick-up in imports was offset by signs that global demand for Chinese goods is struggling to gain traction. Imports rose 3 per cent from a year earlier last month, the first gain in eight months and bucking the consensus forecast for a drop. Overseas shipments dropped 6.4 per cent, worse than expectations. The resulting trade surplus was $US56.5 billion ($88 billion). Economic data for October pointed to weakness in the manufacturing sector. Bloomberg The data underlines the fragility of the recovery in…