(Joe McDonald – Associated Press)
Chinese trade growth accelerated for a second month in June in a positive sign for global demand and the world’s No. 2 economy.
Exports rose 11.3 percent to $196.6 billion, up from May’s 8.7 percent rate, customs data showed Thursday. Imports gained 17.2 percent to $153.8 billion, up from the previous month’s 14.8 percent growth.
Unexpectedly strong export demand could help to support Chinese economic growth that is forecast to weaken this year as Beijing tightens bank lending controls to reduce the risks of rising debt.
“Today’s upbeat figures point to still strong foreign demand for Chinese goods, as well as fairly resilient domestic demand,” said Julian Evans-Pritchard of Capital Economics in a report. Click here to read more.