China’s exports rebound unexpectedly to growth in March

By JOE McDONALD
AP Business Writer

BEIJING (AP) — China’s exports rebounded unexpectedly to growth in March despite a decline in U.S. and European demand following interest rate hikes to cool inflation. Customs data showed exports rose 14.8% over a year earlier to $315.6 billion, recovering from a 6.8% contraction in January and February. Imports sank 1.4% to $227.4 billion, but the contraction was smaller than the 10.2% slide in the previous two months. China’s politically sensitive global trade surplus widened by 82% over a year earlier to $88.2 billion. Trade weakness adds to complications for President Xi Jinping’s government, which is trying to revive economic growth that sank last year to 3%, the second-weakest rate since the 1970s.