July trade figures indicate recovery for China

China’s July trade numbers grew robustly, indicating that China’s economy could be stabilizing after a rocky first half of the year, Financial Times reported. Exports rose 5.1% year-on-year, rebounding from a 3.1% drop in June. Imports increased 10.9%, up from a decline of 0.7% the month before. Both figures are well ahead of forecasts, pointing to a steadying of the country’s economy after a sharp slowdown in exports and imports during the last few months. China may also be catching a tailwind from overseas, with early signs that the Eurozone could exit recession in the second half of the year.