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, lower than expectations for a 10.6% rise, according to Reuters. Imports also missed estimates, coming in at an annual 5.5%, versus 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.
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