1 year, 6 months ago
China trade tumbles in May, highlighting slowdown of economic recovery
The HinduChina's exports fell 7.5% from a year earlier in May and imports were down 4.5%, adding to signs that an economic rebound following the end of the anti-virus controls is slowing as global demand weakens due to higher interest rates. “China's exports will remain subdued, as we anticipate the U.S. economy to enter recession,” Lloyd Chan of Oxford Economics said in a report. China's politically volatile trade surplus with the U.S. narrowed by 21.9% to $28.1 billion. Also in May, China's imports from the 27-nation European Union fell 38.6% to $24.5 billion.
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