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Increase in Chinese exports to U.S.

Oct. 14, 2012 at 1:43 PM

NEW YORK, Oct. 14 (UPI) -- China's exports to the United States have increased, and the country's money supply has grown faster than expected, the Chinese government said.

Exports to the United States are up 5.5 percent in September compared to the same month one year ago, The New York Times reported Saturday.

Additionally, China has exported more to the United States than the European Union every month since February. The European Union had previously seen higher exports from China the previous 4 1/2 years.

The rise in imports could indicate a strengthening economy in the United States as consumers buy more foreign goods, the Times said.

"We are beginning to see some improvement in the U.S. market -- the second half of this year is looking better than the first half, with our U.S. orders up by roughly 8 to 10 percent," said Dora Zhao, the sales manager at the Zhuhai Xiangrui Safety Home Appliance Company, an air-purifier manufacturer.

Meanwhile, China's central bank said the country's money supply grew 14.8 percent in September compared to the same month one year ago, the Times reported, higher than the expected 13.7 percent. The growth could indicate relief in the credit squeeze that has crippled many businesses.

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