Summer’s Here. Great. Can We Fast-Forward to Fall? Or 2021 Even?

This is already shaping up to be a long, hot, volatile summer for the history books. But that’s not the only reason we need to get to autumn — and maybe even next year — fast.

China’s trade data over the weekend provided the latest reminder that we are living in a time in which economic figures aren’t going to tell us what we need to know. Exports were down less than expected in May thanks to a surge in medical exports. Imports were slightly lower than expected, thanks to weak commodity prices and confirming that China isn’t returning as a demand center for the global economy as quickly as one would hope.