China’s exports and imports grew strongly in July, boosting confidence that the economy might be stabilising after a shaky first half of the year.
Exports rose 5.1 per cent year on year, rebounding from a 3.1 per cent drop in June. Imports increased 10.9 per cent year on year, up from a 0.7 per cent fall in June.
Both figures were well ahead of forecasts, pointing to a steadying of the country’s growth outlook after a sharp slowdown in exports and imports over the previous few months. The big jump in imports was especially notable as it is an indication that the Chinese economy is holding up well.
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