"NEW YORK – US imports from China rose to an all-time record after seasonal adjustment in April, despite the Shanghai lockdown and other Covid-related blockages in the Chinese economy.

That isn’t what you read in Bloomberg News, whose 30 economists and 100 full-time economics reporters apparently haven’t learned the difference between seasonally adjusted and unadjusted data.

Unadjusted, the data show a typical bouncing-ball pattern over a 12-month cycle. It is meaningless to make month-to-month comparisons without taking into account the pronounced seasonality of trade patterns.

The chart above reflects seasonal adjustment performed on the Eviews econometrics platform using the TRAMO algorithm, the approach employed by most central banks.

Wrote Bloomberg June 7: “The US trade deficit shrunk in April by the most on record in dollar terms, reflecting a drop in the value of imports amid Covid lockdowns in China while exports climbed. Imports dropped in April as factory activity in China
fell to the lowest level since February 2020 amid strict lockdowns to curb the spread of Covid-19. While manufacturing in the country has improved somewhat since, the measures are still straining already-tenuous global supply chains, especially when
coupled with Russia’s war in Ukraine. The deficit with China decreased in April by $8.5 billion, the most in seven years. Imports dropped $10.1 billion, also the most since 2015.”

The important story is the diametric opposite of Bloomberg’s report: Despite the Covid lockdown, China’s economy continued to export more than ever to the United States. "

https://asiatimes.com/2022/06/china-exports-to-us-jump-contrary-to-press-reports/

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On Thursday, June 9, 2022 at 8:34:07 PM UTC+8, ltlee1 wrote:

"NEW YORK – US imports from China rose to an all-time record after seasonal adjustment in April, despite the Shanghai lockdown and other Covid-related blockages in the Chinese economy.

That isn’t what you read in Bloomberg News, whose 30 economists and 100 full-time economics reporters apparently haven’t learned the difference between seasonally adjusted and unadjusted data.

Unadjusted, the data show a typical bouncing-ball pattern over a 12-month cycle. It is meaningless to make month-to-month comparisons without taking into account the pronounced seasonality of trade patterns.

The chart above reflects seasonal adjustment performed on the Eviews econometrics platform using the TRAMO algorithm, the approach employed by most central banks.

Wrote Bloomberg June 7: “The US trade deficit shrunk in April by the most on record in dollar terms, reflecting a drop in the value of imports amid Covid lockdowns in China while exports climbed. Imports dropped in April as factory activity in China

fell to the lowest level since February 2020 amid strict lockdowns to curb the spread of Covid-19. While manufacturing in the country has improved somewhat since, the measures are still straining already-tenuous global supply chains, especially when
coupled with Russia’s war in Ukraine. The deficit with China decreased in April by $8.5 billion, the most in seven years. Imports dropped $10.1 billion, also the most since 2015.”

The important story is the diametric opposite of Bloomberg’s report: Despite the Covid lockdown, China’s economy continued to export more than ever to the United States. "

https://asiatimes.com/2022/06/china-exports-to-us-jump-contrary-to-press-reports/

The statistical curves are constantly flowed with each other, and this gap is to be expected as it is is based on month to month, which depended on the timing of recording or other adjustment and accuracy as well. The total at the end of the year will
the ultimate figure, as the differences between the two curves will be adjusted. In any case, indeed China is ahead in exports..

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* Origin: fsxNet Usenet Gateway (21:1/5)