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China May exports seen picking up, outlook shaky

(China Daily)

15:10, September 05, 2012

China's exports may have picked up modestly in May due to seasonal volatility, but the outlook remains shaky as Europe struggles to cope with its debt crisis and amid signs of US economic weakness, a Reuters poll showed.

A pair of Chinese manufacturing surveys has pointed to signs of a broadening slowdown in the economy on a deeper-than-expected deterioration in demand at home and abroad, also signaling the likelihood of more policy easing.

Hurt by a recession in Europe and a patchy economic recovery in the United States - the regions China most trades with - export growth has slumped to single-digit levels this year, a long way from growth of more than 20 percent seen in 2010.

Forecasts from 22 analysts call for China's exports to have grown an average 6.8 percent in May from a year earlier while imports may have gained 5 percent.

The monthly trade surplus is seen at $16.2 billion.

April saw exports climb a more modest 4.9 percent. Many analysts believe Chinese companies tend to ship more goods overseas in May as there is often a lull in April.


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