China’s exports and imports “surprisingly” rebounded in July, offering some hope that the nation’s economy might be stabilizing after more than two years of slowing growth, Reuters reports.
Although an imminent rebound still looks unlikely, data from China’s customs administration showed exports rose 5.1 percent year-over-year in July, after their first fall in 17 months in June. Analysts had expected a 3 percent rise.
Moreover, imports jumped 10.9 percent in July, compared with July 2012, which was more than five times what analysts forecasted. The strength in imports also left China with a trade surplus of $17.8 billion, which was smaller than expected.
“July seems to reflect a return to a ‘normal,’ relatively uninspiring trend,” according to analysts from Moody’s, Reuters said. “In other words, while the worst seems to be over, the upturn will be relatively flat.”