Australia remains very
closely linked to the Chinese economy and is strongly impacted the current
Covid-19 crisis. But this morning, government data showed that China’s exports
grew unexpectedly by 3.5% on year in April (vs -11.0% expected), while imports
dropped 14.2% (-10.0% expected). Also, China’s Caixin Services PMI rose to 44.4
in April (50.1 expected) from 43.0 in March.
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