China’s Export Machine Powers Ahead But Trade With US Slumps

China's export growth unexpectedly accelerated last month in the fastest gain since April, as demand from around the world compensated for the continued slump in shipments to the US.

Total exports rose 7.2% in July from a year earlier to $322 billion, a surprise to most economists who had expected a slowdown from June's upwardly revised increase of 5.9%. The statistical effect of a low base last year likely accounts for part of the upswing in year-on-year terms.