China's trade data for June offers few surprises
Chinese trade data for June is out, and it's offered few surprises.
According to China's Customs Bureau, exports grew by 1.3% in the year to June in yuan-denominated terms, slightly higher than the 1.2% growth seen in the 12 months to May.
On the other side of the ledger, imports declined by 2.3% over the same period, a sharp reversal on the 5.1% growth recorded in May.
As a result, the nation's trade surplus came in at RMB311.12 billion, down from RMB324.77 billion in May.
US dollar-denominated figures will be released shortly.
According to Thomson Reuters, economists are looking for annual declines in exports and imports of 4.1% and 5.0% respectively.
The trade surplus is expected to fall to $US46.64 billion, down from $US49.9 billion seen previously.
Given the decline in the yuan over the past 12 months, this suggests that the value of both exports and imports likely declined compared to June 2015.
More to follow...
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