The trade surplus remained stable on an annual basis, as imports and exports recovered to the same levels as in November 2019

This led to a y/y decline of 6%, which represented an improvement on the 17.5% y/y fall in Q2

Fixed asset investment in the manufacturing dropped by 5.3% y/y

According to data released by China’s National Bureau of Statistics, as of November 2020

The sharp decline in pork prices led to lower food prices in general and was the main driver for the decrease in CPI

The US labour market showed signs of a rebound in May and June

Real GDP continued to fall on a y/y basis, by 3.9%

The strong recovery was driven by y/y growth of 9.2% for private consumption

This follows a huge fall of 23.9% y/y in Q2 2020 caused by the COVID-19 induced stringent lockdown effect on domestic demand

Construction sector output plunged by 26.2% y/y