China’s exports fell in May for the first time since February, adding to concerns that growth in the world’s second-largest economy could be faltering.
In April, China’s exports beat expectations slightly with 8.5% year-on-year growth. However, the disappointing export figures for May indicate that the longer-term trend is down, said Hao Hong, chief economist at Grow Investment Group.
China won’t be able depend on trade to boost its economy for “another six months, for sure,” he said, noting a drag from lackluster U.S. demand, where inflation — and interest rates — remain high
One month blip? Or is China headed toward the dumpster?