China Exports Leap: Is Economy Out of the Woods?

Flame God: Portrait in Wood (Photo credit: cobalt123)

China's May trade data beat gloomy market expectations, figures from the customs administration showed on Sunday, with crude oil imports surging and U.S. demand for Chinese exports offsetting lackluster shipments to Europe. Analysts said it was too early to declare the Chinese economy out of the woods after a weak showing in industrial activity on Saturday, which was foreshadowed by an interest rate cut two days earlier.

Exports rose 15.3 percent in May from a year earlier, a much stronger rate than market expectations of a 6.8 percent increase, and up from April's rise of 4.9 percent. Annual growth of 12.7 percent in imports last month also exceeded expectations of a 5.0 percent increase in a Reuters poll, and were well above the 0.3 percent annual rise in April. ... Continue to read.

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