Economics
China’s Exports Rebound as Threat of Broader Slowdown Looms
- Exports rise to $308 billion, the most since January
- Imports also rise, but the gain isn’t as fast as for exports
WATCH: Helen Qiao of BofA discusses what the latest better-than-expected trade figures say about China’s growth outlook.
Source: Bloomberg
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China’s exports rebounded in May as Covid-related bottlenecks on production and logistics clear up, but a slowdown looms this year as global consumer demand for goods cools, weakening trade’s ability to act as a driver for economic growth.
Exports in dollar terms grew 16.9% in May from a year earlier, customs data showed Thursday, accelerating from April’s 3.9% increase and climbing well above an 8% gain projected by economists. Imports rose 4.1% after staying unchanged in the previous month. Economists had expected a 2.8% increase.