China exports slump in May

China’s exports fell last month in another indication that the rebound in the world’s second-largest economy was losing steam.

Exports fell by 7.5% in May to $283.5bn on an annual basis, a sharp reversal from the increase of 8.5% in April, data released by China Customs showed.

The May figure was below the expectations of a fall of 0.1%. Imports fell by 4.5% to $217.7bn, up from a fall of 7.9% in April, and above expectations of a 6.8% fall.

China’s trade surplus was $65.8bn in May compared to $90.2bn in the previous month.

Reporting by Frank Prenesti for Sharecast.com