China: Discouraging prints from exports in May – UOB – by pabspiovano China TradeBalance Banks
Economist at UOB Group Ho Woei Chen, CFA, comments on the recent trade balance figures in the Chinese economy.China’s exports and imports both contracted in May. The decline in exports came in worse than expectation and contributes to a string of negative data indicating that China’s growth momentum has likely slowed in 2Q23.
Imports of motor vehicles, plastics, electronics and computers led the drop in May while aircraft and energy-related imports such as refined petroleum products and coal remained robust. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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