China’s exports and imports grew by less than expected in April, as turmoil in Europe and a slower global economy continued to weigh on trade, Bloomberg reported. Exports were up 4.9% year-on-year in April, below a median estimate of 8.5% of 33 analysts surveyed by Bloomberg, while imports grew 0.3%, far below a forecast of a 10.9% gain. The trade surplus was US$18.4 billion, almost double estimates of US$9.9 billion and up from US$11.4 billion in April of last year. The prospect of weak export growth may push Chinese regulators to loosen monetary policy further, perhaps cutting bank reserve requirements this month and increasing fiscal spending during the upcoming quarter, said Zhang Ziwei, chief China economist for Nomura Holdings.
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