China June Exports Drop 3.1%

China's exports declined 3.1% y/y in June, versus a 1% rise in May, the General Administration of Customs reported. However, economists were expecting a 4% rise. The country's imports fell 0.7% in the month, versus a 0.3% drop in May. Economists were expecting an 8% rise. China's trade surplus widened to $27.13 billion, from $20.4 billion in May. Economists projected a surplus of $27.75 billion for June.