China's exports surge on easing COVID curbs

STORY: China’s exports grew far beyond expectations in May.

They saw 16.9% growth from a year before.

That as authorities eased some health crisis curbs in Shanghai, allowing factories to reopen and logistics to ease.

It was China's fastest growth since January and more than double analyst projections of 8%.

Official data showed daily container throughput at Shanghai's port was almost back at full capacity.

In April, it operated at a much reduced level.

That as economic activity fell sharply in China while the country dealt with the health crisis.

Authorities placed major cities like Shanghai under strict lockdowns, which shut factories and hit global supply chains.

Data showed imports also rose in May for the first time in three months, up just over 4% from a year before.

Experts, though, still worry the outlook for China’s exports points to risks from the Ukraine war and mounting raw material costs.

Those factors - as well as rising interest rates in the U.S. and Europe - have raised concerns about a global recession.

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