China’s exports gained 7% in May from a year earlier, Bloomberg reported, citing a Sunday statement by China customs. The gain, which surpassed analysts’ median estimate of 6.7% in a Bloomberg News survey, helped to cushion a slowdown in China’s economy amid a 1.6% fall in imports – a drop that was not forecast by any economists in a survey that had a median projection for a 6% gain. The trade surplus widened to US$35.92 billion. Stronger exports may convince Chinese leaders that a bigger stimulus package for the economy isn’t necessary.
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