China Trade Figures For July Beat Forecasts

Written By Unknown on Kamis, 08 Agustus 2013 | 16.01

China's trade outpaced expectations in July, in a possible sign that world's second-largest economy is stabilising, following a slowdown this year.

The rebound is a rare optimistic sign following fears over China's economic expansion amid weak global demand, as policymakers have tried t to cool a local credit boom.

Exports rose 5.1% compared with the same period a year earlier while imports leaped 10.9%, customs data showed.

Economists had expected growth, though at a slower rate.

China's politically sensitive global trade surplus narrowed to $17.8bn (£11.5bn).

Exports to the United States edged up 2.3% however exports to Europe contracted 2.8%.

The latest trade figure disparity further fuels signs of US green shoots emerging while Europe stagnates.

The expansion comes after trade fell in June, when exports contracted by 3.1% while imports shrank 0.7%.

China's economy grew 7.5% in the three months ending in June over a year earlier, down from 7.7% in the previous quarter, as growth in factory production and investment slowed.

Some analysts suspect growth in China could slide below 7% in coming quarters.

The latest data could help support Chinese leaders, who are facing pressure to achieve a 7.5% growth target for the year.

The target is far stronger than forecasts for the United States, Europe and Japan, but would be the country's weakest performance since 1991.


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