This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-13723433
The article has changed 3 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| China's export growth slows down | |
| (about 1 hour later) | |
| The pace of growth of China's exports slowed down in May suggesting that demand in its key markets may be faltering. | |
| Shipments from the mainland grew by 19.4% in May, compared with the same month last year, according to China's customs agency. | |
| The number is a sharp decline from a 30% annual surge seen a month earlier. | |
| Meanwhile, imports grew by 28.4%, resulting in a weaker-than-expected trade surplus of $13.1bn (£8bn). | |
| Analysts had forecast a surplus of $18.6bn. | |
| They said the surprisingly weak numbers suggest the global economic recovery still remains volatile. | |
| "Looking at export figures, they grew at a slower clip last month, indicating there are still uncertainties hanging over the world recovery," said Chen Yong of Huatai Securities in Shanghai. | "Looking at export figures, they grew at a slower clip last month, indicating there are still uncertainties hanging over the world recovery," said Chen Yong of Huatai Securities in Shanghai. |
| Ken Peng of Citigroup warned that growth in China's trade may slow down even further. | Ken Peng of Citigroup warned that growth in China's trade may slow down even further. |
| "I wouldn't be surprised if next month showed softer numbers," Mr Peng said. | "I wouldn't be surprised if next month showed softer numbers," Mr Peng said. |
| Rebalancing trade | Rebalancing trade |
| China's economic growth has been powered by a boom in its exports sector. | China's economic growth has been powered by a boom in its exports sector. |
| The country is the world's second largest economy and its biggest exporter. | The country is the world's second largest economy and its biggest exporter. |
| However, as export demand from key markets like the US and Europe slows, China has instead been looking to boost domestic demand to sustain growth. | However, as export demand from key markets like the US and Europe slows, China has instead been looking to boost domestic demand to sustain growth. |
| Analysts said that even though the export numbers for May were weak, the growth in imports has been encouraging. | Analysts said that even though the export numbers for May were weak, the growth in imports has been encouraging. |
| "Imports were strong and on par with last month in terms of absolute value, which shows that China's domestic demand remains strong," said Xu Biao of China Merchants Bank. | "Imports were strong and on par with last month in terms of absolute value, which shows that China's domestic demand remains strong," said Xu Biao of China Merchants Bank. |
| "In past years, May imports were often smaller compared to April's," Mr Xu added. | "In past years, May imports were often smaller compared to April's," Mr Xu added. |
| The fact the imports grew despite the volatility in global commodity prices shows that domestic demand remains string, according to Dr Eliza Liu of CCB International. | The fact the imports grew despite the volatility in global commodity prices shows that domestic demand remains string, according to Dr Eliza Liu of CCB International. |
| "We expected imports to fall a bit deeper on falling global commodity prices and slowing investment in China," Dr Liu said. | "We expected imports to fall a bit deeper on falling global commodity prices and slowing investment in China," Dr Liu said. |
| "It turned out things were better than we thought." | "It turned out things were better than we thought." |