A cargo ship navigates its way into Shenzhen Port in China.
NEW YORK (CNNMoney) -- China's monthly trade balance showed a wider surplus in May, although the rate of export growth slowed.
The world's second largest economy reported a $13.05 billion surplus in May, up from its $11.4 billion surplus recorded in April, China's General Administration of Customs said Friday..
Exports grew at a 19.4% rate year-over-year, to $157.16 billion in May. While that's still a fast rate, it marks a slip from the staggering 29.9% growth in April.
Import growth sped up, expanding at a 28.4% rate to $144.11 billion.
The data came a week after China reported itsmanufacturing activity slowed to a 10-month low in May.
Economists have been expecting China's rapidly growing economy to decelerate gently in the spring.
Rapid inflation had already started quelching both business and consumer spending, they say. Meanwhile, the Chinese government has tightened monetary policy controls in hopes of taming inflation and preventing the economy from overheating.
|What we want Apple to unveil at WWDC|
|Millennials squeezed out of buying a home|
|7 traits the rich have in common|
|Big Data knows you're sick, tired and depressed|
|Your car is a giant computer - and it can be hacked|
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.07%||4.28%|
|15 yr fixed||3.18%||3.26%|
|30 yr refi||4.05%||4.21%|
|15 yr refi||3.17%||3.18%|
Today's featured rates: