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Financial News: China's Exports Rise More Than Forecast

China's Exports Rise More Than Forecast

08/08/2018 - 00:40:00 (RTTNews)

(RTTNews) - China's exports growth exceeded expectations in July, the General Administration of Customs said Wednesday.

Exports advanced 12.2 percent year-on-year in July, faster than the 10 percent rise economists had forecast.

At the same time, imports surged 27.3 percent from a year ago versus the expected growth of 16.5 percent.

Looking ahead, Julian Evans-Pritchard, an economist at Capital Economics said he expects export growth to cool in the coming months, though this will primarily reflect softer global growth rather than US tariffs, the direct impact of which will continue to be mostly offset by the renminbi's recent depreciation.

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