Good news for the Chinese economy
The latest data from China shows signs that the economy is in fact improving. Trade growth picked up again in August as exports rose by 7.2%, which is a 2.1% improvement since July.
Export to the U.S. climbed to 6.1%, from 5.3% in July, and export to the European Union increased a solid 2.5%.
Ting Lu from the Bank of America stated that, “though import growth softened a bit in August from July, it’s still much stronger than the negative readings in May and June. He also mentioned that the softer import data could be due to pent up demand in July and a slowdown of purchase due to an increased price of raw materials. The Chinese manufacturing sector has most definitely shown signs of recovery, which may indicate a possible continuing growth rate as apposed to a trade decrease.