China Exports Rise 7.2% in June but Still Miss Estimates
NEW YORK (TheStreet) -- China exports rose 7.2% in June year over year, an improvement from the 7% gain in May, but still missed expectations.
New trade data out of China showed improvement in June but export and import growth still fell short of expectations.The country's exports rose 7.2% from a year ago, better than the 7% gain logged in May, but lower than expectations for a 10.6% rise, according to Reuters. Imports also missed estimates, coming in at an annual 5.5%, vs. Reuters' forecast for a 5.8% rise. However, imports swung from a 1.6% drop in May. The trade surplus narrowed to $31.6 billion last month from $35.9 billion in May. Exports were boosted by the strengthening U.S. consumer and recovery in global demand. China has also been taking measures to help exporters by reducing their costs through its mini-stimulus program. It's also attempting to boost its economy by increasing infrastructure spending and cutting taxes on small businesses. In New York, I'm Brittany Umar reporting for TheStreet. -- Written by Brittany Umar in New York.
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