Exports growth picks up pace, signals turn in global trade
Analysts say trade impulse not enough to boost domestic demand
Consumer, producer prices highlight stubborn deflationary pressure
More policy support seen as economy still fragile heading into 2024

BEIJING, Jan 12 Reuters China39;s exports grew at a faster pace in December, while deflationary pressures persisted last month, keeping alive expectations for more policy easing measures to shore up an economy carrying significant pockets of weakness into 2024.

Chinese policymakers could breathe a sigh of relief on signs global trade is slowly turning a corner with the prospect of lower borrowing costs on the horizon, but a protracted property crisis, cautious consumers and geopolitical challenges point to another bumpy year for the world39;s secondbiggest economy.

Exports grew 2.3 from a year earlier in December, customs data showed on Friday, compared with a 0.5 increase in November and beating the 1.7 boost expected in a Reuters poll. Imports grew by 0.2 yearonyear, missing forecasts for a 0.3 increase but still reversing a 0.6 drop a month prior.

The better export data is first and foremost driven by semiconductors and electronics, and the recovery on that side comes from a cyclical rebound in consumer demand overseas, said Xu Tianchen, senior economist at the Economist Intelligence Unit.

Xu said the figure was also buoyed by a low statistical base since there was severe disruption to exports last…