China Reports a Surprise Expansion in July’s Exports by 7.2%!

China’s exports for July rose 7.2%, the fastest pace in seven months, while imports fell 1.4%, with a trade surplus of $62.33 billion.

The announcement from the Chinese General Administration of Customs contrasted with a Reuters’ poll which forecasted a drop of 0.2% for exports and a rise of 1% for imports. The rise in exports and a plunge in imports, coupled with contrast from economists reflected a mixed outlook for the country trying to recover from the coronavirus outbreak.