No sign of sustainable recovery for Hong Kong's export

Hong Kong's trade data for May is due on 25 June. 

Last year's high base likely dragged down Hong Kong's export growth, and this probably means it will take a few more months to determine whether exports are on the path to a sustainable recovery. 

According to Standard Chasrtered, exports is likely to have fallen 2.0% y/y (versus a 2.2% increase in April) and imports to have dropped 2.2% (versus a 2.9% drop). 

However, leading indicators are encouraging - the Hong Kong Trade Development Council (HKTDC) Export Index rose to 46.8 in June from 44.9 in Q1, indicating that sentiment among exporters is on the mend. "We expect further recovery in demand from the West and a stabilising China to support exports more in H2-2015", said Standard Chartered.