China July Exports and Imports Exceed Estimates, Surplus Trails China’s exports rose 5.1 percent in July from a year earlier while imports advanced 10.9 percent, resulting in a $17.8 billion trade surplus, the General Administration of Customs said today in Beijing. Shipments abroad compared with the median estimate for a 2 percent increase in a Bloomberg News survey of 45 analysts and June’s 3.1 percent drop. Forecasts ranged from a decline of 4 percent to gain of 8.8 percent. The increase in imports compares with the median estimate for a 1 percent gain and a 0.7 percent decline in June. Projections ranged from a fall of 2.3 percent to an advance of 6 percent. The trade surplus compares with the median forecast for an excess of $26.9 billion and a $27.1 billion surplus in April. Estimates ranged from a surplus of $14.9 billion to $36.2 billion. The government signaled last month that it will defend its 7.5 percent economic-growth target for the year after expansion slowed for a second quarter. China has announced what Bank of America Corp. called a “small stimulus” consisting of measures including tax breaks for small companies and accelerated railway construction. The statistics bureau will tomorrow provide data on July’s inflation, industrial production and retail sales, and January-to-July fixed-asset investment. The central bank will publish data on credit and money supply over the next week.
Posted on: Thu, 08 Aug 2013 03:16:49 +0000
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