From CBS Market Watch:
Exports surged 48.5% in May from a year earlier to $131.76 billion, while imports were up rose 48.3% to $112.23 billion.
May's data marked the sixth straight month of growth in exports, and surpassed April's 30.5% growth rate. Imports were up for the seventh straight month, though easing from April's 49.7% rise.
The trade surplus for the month totaled $19.5 billion, up more than 11-fold from $1.7 billion in April.
EconomPic Data graphed out China's export volume below:
Meanwhile Treasury Secretary Geithner gave more lip service on China's currency manipulation. In testimony before Congress, Geithner said he just hasn't decided when to release the suppressed report on China's currency manipulation.
I, to be honest, do not know, whether we're at the point now when we're going to see meaningful progress in the near term. ... Our objective is to encourage China to move as quickly as possible.
With more mealy mouthed vagueness, the strongest words by Geithner acknowledged the reality of the problem.
Reform of China's exchange rate is critically important to the United States and to the global economy.
But gee, in terms of actually doing something, as usual, nothing happens. Chinese currency manipulation has cost the United States 2.4 million jobs from 2001 to 2008.
Meanwhile, Chuck Schumer is rattling his saber in Congress:
Years of meetings and discussions with Chinese officials in an effort to persuade China to float its currency have repeatedly failed to produce lasting and meaningful results," Senator Charles Schumer told the U.S.-China Economic and Security Review Commission, a watchdog group appointed by Congress.
"No question, this is what is called a 'put up or shut up' moment for lawmakers," the New York Democrat said.
Senator Schumer claims the Senate will bring up the 0/congress/bills/111/s3134">currency manipulation bill for a vote in the next two weeks. I'll believe it when I see it.