China's sluggish post-pandemic recovery
Chinese imports slipped by more than anticipated in April, while export growth decelerated, in a possible sign that local demand in the world's second-largest economy remains constrained despite a recent post-COVID reopening.
Imports in China dropped by 7.9% during the period, further slowing from a decline of 1.4% in March. Economists had estimated that the figure would contract by 5.0%.
Exports, meanwhile, moved up by 8.5% on an annual basis, topping expectations. Yet the expansion was not as fast as the prior month, further pointing to a mixed recovery as the country's crucial manufacturing sector struggles.
The trade data may present a challenge for nations with large exposure to Chinese goods -- a notion that led to a softening in a slew of Southeast Asian currencies on Tuesday.
