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China’s trade balance data for May were disappointing.
Chinese exports slipped 7.5% year-on-year to $283.5 billion, far worse than the 0.4% decline expected by economists polled by Reuters.
Julian Evans-Pritchard, head of Capital Economics’ China division, noted that the decline was so sharp that export volumes fell below year-to-date levels.
Imports fell 4.5% year on year to $217.69 billion in May, compared with an estimated 8% decline.