Trade
China Exports Drop More Than Expected, Fueling Growth Risks
- Exports decline 7.5% in May vs median estimate for 1.8% drop
- Trade figures add to concerns about weakening recovery
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Chinese exports fell for the first time in three months in May, adding to risks in the world’s second-largest economy as global demand weakens.
Overseas shipments shrank 7.5% from a year ago to $284 billion, official data showed Wednesday, worse than the median forecast for a 1.8% drop. Exports to most destinations contracted, with double-digit declines to places including the US, Japan, Southeast Asia, France and Italy.