China’s exports plunge by 7.5% in May, far more than expected

• Exports fell 7.5% in May from a year ago, far worse than the 0.4% decline predicted by a Reuters poll.
• Imports for May dropped by 4.5% from a year ago — less than the 8% plunge forecast by Reuters.
• The decline was so sharp that export volumes are below their levels at the start of the year, after accounting for seasonality and changes in export prices, Julian Evans-Pritchard, head of China Economics, at Capital Economics, said in a note.

https://www.cnbc.com/2023/06/07/chinas-exports-plunge-by-7point5percent-in-may-far-more-than-expected.html