Largest export increase in five months

Global supply chains remain under massive pressure. However, there is now positive news from China, the largest exporter of consumer goods and intermediate products: Despite ever-looming Covid lockdowns, exports from the second-largest economy surprisingly increased in June. They rose by 17.9 percent year-on-year, the Beijing Customs Administration announced on Wednesday. This marks the strongest increase in five months. In May, the increase was 16.9 percent. Economists originally expected an increase of only 12 percent.