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China’s export growth gains steam despite weakening global demand
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  • China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a sharp, Covid-induced slump, though imports remained sluggish.
  • A global factory survey released last week showed demand weakened in July, with orders and output indexes falling to their weakest levels since the onset of the Covid-19 pandemic in early 2020.
  • China’s official manufacturing survey indicated activity contracted last month, raising fears that the economy’s recovery from widespread lockdowns in spring will be slower and bumpier than expected.


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China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a sharp, Covid-induced slump, though imports remained sluggish.

Outbound shipments grew 18.0% in July from a year earlier, the fastest pace this year, official customs data showed on Sunday, compared with a 17.9% rise in June and beating analysts’ expectations for a 15.0% gain.

Analysts had expected exports to fade amid growing signs of cooling global consumption.

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