STORY: China’s imports and exports returned to growth in April – after contracting the previous month.
It signals an encouraging upturn in domestic and overseas demand, as Beijing tries to shore up a shaky economy.
The data suggests a slew of support measures may have helped to stabilise both investor and consumer confidence.
But analysts remain skeptical about the sustainability of this trade bounce.
Shipments from China grew 1.5% year-on-year last month by value, in line with expectations…
Having fallen 7.5% in March – the first contraction since November.
Imports for April increased a forecast-beating 8.4%, reversing a 1.9% fall in March.
As the first quarter of the year saw imports and exports rise year-on-year, those weak March figures had led to concerns momentum could be faltering again.
Most commentators say Beijing has a tough job to improve confidence.
Consumer inflation, producer prices and bank lending for March showed the world’s number two economy has vulnerabilities.
Alongside this, a protracted property crisis remains a drag on overall confidence, spurring calls for more policy stimulus.
Beijing has set an economic growth target for 2024 of around 5%, which many analysts say will be a challenge to achieve without much more stimulus.
Source Agencies
