Trade
China Exports Unexpectedly Slow in Warning Sign for Economy
- Cooling global demand threatens a bright spot in the economy
- Imports rise on chip equipment orders to avoid future US curbs
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China’s exports growth unexpectedly slowed in July, signaling a cooling of global demand that has been propping up growth in the world’s second-biggest economy.
Exports rose 7% in July in dollar terms from a year earlier, falling short of economists’ median forecast of a 9.5% gain, according to data from the customs administration Wednesday. Meanwhile, imports beat expectations and expanded 7.2%, narrowing a trade surplus to $84.65 billion from the previous month.