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China's imports, exports rebound in July in possible sign No. 2 economy is stabilizing

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(Globalpost/GlobalPost)

HONG KONG - China's trade rebounded in July, in a possible sign that the slowdown in the world's No. 2 economy is stabilizing.

Customs data released Thursday showed that exports rose 5.1 per cent compared with the same period a year earlier while imports leaped 10.9 per cent. Economists had expected growth, though at a slower rate.

China's politically sensitive global trade surplus narrowed to $17.8 billion.

Exports to the United States edged up 2.3 per cent while exports to Europe contracted 2.8 per cent.

The expansion comes after trade fell in June, when exports contracted by 3.1 per cent while imports shrank 0.7 per cent.

The rebound is a rare optimistic sign as China's economic expansion undergoes a slowdown amid weak global demand and efforts by policymakers to cool a credit boom.

http://www.globalpost.com/dispatch/news/the-canadian-press/130808/chinas-imports-exports-rebound-july-possible-sign-no-2-econo