UBS On-Air: Paul Donovan Daily Audio 'The effects of spending savings'




UBS On-Air show

Summary: Consumers are in focus in the data today. Chinese export numbers were in the upper part of the forecast range for September. People emerged from lockdown eager to spend their savings on stuff (rather than services). China is, for now, the largest manufacturer in the world, and so Chinese exports have logically grown. It is far too soon for trade localization to have affected this data.