From Wall Street Journal:
The decline in China’s exports continued to deepen in May, new data show, emphasizing how hopes for a recovery in the world’s third-largest economy remain pinned on the effectiveness of the government’s stimulus program.
Merchandise exports in May fell 26.4% from a year earlier, China’s Customs agency said Thursday, accelerating from April’s 22.6% decline as global demand remained weak. China’s imports also extended their fall, dropping 25.2% in May from a year earlier after shrinking 23% in April.
The weak export performance is shrinking China’s trade surplus, which at $13.39 billion for May is more than a third smaller than in the same month last year.
