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The FTCR China Export Index rose in November to its second highest level so far this year, helped by a pick-up in prices and faster growth of new orders. At 56.2, the headline index was up 1.5 points from October and 1.6 points higher than in November 2016. Although volume growth was largely unchanged from October, companies reported easing cost pressures and a further improvement in profits. Exporters were also more optimistic about the outlook than they have been since April last year.

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  • Our Export Volume Index dipped slightly, down 0.1 points to 64.1 but above the 63.4 average for the previous 12 months.
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  • Respondents were more positive on the outlook for the coming month, with the FTCR China Export Outlook Index rising 3.6 points month-on-month and 4.1 points year-on-year to 55.1.
  • Exporters also reported faster growth of new orders, with our sub-index rising 2.5 points from October to 53.4.
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  • Our Export Price Index pointed to a rise in export prices, having shown a fall last month. The index was 4 points higher month on month and 0.3 points higher year on year at 53.1.
  • Among respondents, 89 per cent said prices remained the same.
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  • The FTCR China Export Cost Index fell 0.9 points month-on-month but was up 1.9 points year-on-year at 53.1.
  • A record high 89 per cent of respondents said costs stayed the same when compared with the previous month.
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  • Our Export Profit Index rose 0.3 points to 51.8, just above the average 51.7 for the previous 12 months. The index has been at or above 50 for eight straight months.

The FTCR China Export survey is based on interviews with 200 export manufacturers, trading companies and shipping agents nationwide. For further details click here. This report contains the headline figures from the latest Export survey; the full results are available from our Database.

This article has been amended since first publication. The FTCR China Export Index rose in November to its second highest level so far this year, not the highest level, as previously stated.

FT Confidential Research is an independent research service from the Financial Times, providing in-depth analysis of and statistical insight into China and Southeast Asia. Our team of researchers in these key markets combine findings from our proprietary surveys with on-the-ground research to provide predictive analysis for investors.

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