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Sunday, August 11, 2013

Chinese trade data beats estimates.

China's trade data for July topped expectations and provided evidence that the economy might be stabilizing following two years of slowing growth. Imports surged 10.9% on year vs expectations of +2.1%, while exports rose 5.1% vs +3%. "Together with the rebounding official Purchasing Managers’ Index...July trade data are supportive of a better economic outlook for China," says Bank of America's Ting Lu.

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