China’s exports for May grew at their fastest pace in more than a year despite trade tensions, though imports fell short of analyst expectations, according to customs data released Friday.
HONG KONG (AP) — China’s exports in May grew at their fastest pace in more than a year despite trade tensions, though imports fell short of analyst expectations, according to customs data released Friday.
Exports jumped 7.6% in May from the same month last year to $302.35 billion, rising at the fastest pace since April 2023.
“Import volumes were little changed last month, but they will probably rise soon, with increased government spending supporting the import-intensive construction sector,” she said.
Factory activity in China slowed more than expected in May, according to an official survey released last week.
China has struggled to bounce back after the COVID-19 pandemic, as it grapples with weaker demand globally after the U.S. Federal Reserve and other central banks raised interest rates to counter inflation.
China has set a target of around 5% for economic growth this year, an ambition that will require more policy support, economists say.
The original article contains 367 words, the summary contains 153 words. Saved 58%. I’m a bot and I’m open source!
This is the best summary I could come up with:
HONG KONG (AP) — China’s exports in May grew at their fastest pace in more than a year despite trade tensions, though imports fell short of analyst expectations, according to customs data released Friday.
Exports jumped 7.6% in May from the same month last year to $302.35 billion, rising at the fastest pace since April 2023.
“Import volumes were little changed last month, but they will probably rise soon, with increased government spending supporting the import-intensive construction sector,” she said.
Factory activity in China slowed more than expected in May, according to an official survey released last week.
China has struggled to bounce back after the COVID-19 pandemic, as it grapples with weaker demand globally after the U.S. Federal Reserve and other central banks raised interest rates to counter inflation.
China has set a target of around 5% for economic growth this year, an ambition that will require more policy support, economists say.
The original article contains 367 words, the summary contains 153 words. Saved 58%. I’m a bot and I’m open source!