Chinese Exports Miss Expectations
Chinese exports climbed 7.2% year-over-year in June, missing expectations for a 10.4% rise. This compared to a 7% rise in May.
Meanwhile, Chinese imports were up 5.5%, missing expectations for a 6% rise. But this is up from a 1.6% contraction the previous month.
Chinese trade surplus widened to $36.95 billion, from $35.92 billion, but missed expectations for $26.95 billion.
Economists were looking for a much bigger rise in exports on the back of improving external demand and a lower base last year. Moreover, improving domestic demand was expected to boost imports.
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