Monday, 11 June 2007

Trade Growth - beats economist's forcasts

This is impressive growth by any standard...


June 11 (Bloomberg) -- China's trade surplus rose a bigger- than-estimated 73 percent in May from a year earlier, increasing pressure on the government to allow faster currency gains.

The gap widened to $22.45 billion, the customs bureau said on its Web site. The median estimate of 18 economists surveyed by Bloomberg News was for a $19.5 billion surplus. For the first five months, the surplus grew 84 percent to $85.72 billion.

Surging exports spurred economic growth of 11.1 percent in the first quarter and drove foreign-exchange reserves to a record $1.2 trillion.

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