中国经济：我们现在预计下半年出口将实现正增长-China Economics：We Now Expect Positive Export Growth in 2H

Imports - subpar yet stable: Despite softening, the headline is still the second- highest reading in the year, reflecting stabilizing yet subpar domestic demand. Ordinary imports (mainly for domestic demand) remained subdued, led by weaker commodities imports, while processing imports improved ( Exhibit 2 ). Outlook: Jul-Aug readings mark clear upside to what we expected in mid-year economic outlook. We still expect exports to moderate amid higher base, payback from front-loading and tariff impact, but YoY ...