China's Exports Rebound in April in Boost for Economy [BNN Bloomberg (Canada)]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: BNN Bloomberg
Exports increased 1.5% in dollar terms from a year earlier, reversing a drop in March, while imports climbed 8.4%, the customs administration said Thursday. That left a trade surplus of $72.4 billion for the month. Economists had forecast that exports would rise by 1.3% while imports would climb by 4.7%. A key gauge of Chinese shares listed in Hong Kong extended gains after the trade numbers were published, rising 1.6% to snap a two-day losing streak. The data confirms signs that global demand is strengthening and will also provide a boost to domestic growth. Beijing is relying on strong sales abroad to offset weak consumer spending at home, where a real estate slump has led households to tighten their belts. “Exports have been the bright spot in China's economy so far this year,” said Zhiwei Zhang, president and chief economist of Pinpoint Asset Management. “The weak domestic demand led to deflationary pressure, which boosts China's export competitiveness. This is actually goo
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