Economic news
China’s July exports climb 7%, miss forecasts, imports up 7.2%
2024.08.06 23:31
By Liz Lee and Ellen Zhang
BEIJING (Reuters) – China’s exports climbed 7.0% in July from year earlier, a slower pace of growth than in June and missing expectations, but imports rose 7.2%, customs data showed on Wednesday.
That compares with forecasts for 9.7% growth in exports and a 3.5% increase in imports from a Reuters poll of economists.
It also compares with June figures that showed an 8.6% expansion in exports and a 2.3% contraction in imports.
The world’s second-largest economy has struggled to gain momentum despite government efforts to stimulate domestic demand following the pandemic. A protracted property slump and fears about job security have dragged heavily on consumer confidence.
