Monday, January 9, 2012

BBC News - China export growth slows on weak demand from Europe

Growth in China's exports slowed in December because of sluggish demand from the US and Europe.
Containers at the port of TianjinChina's politically charged trade surplus shrank for the third year in a row in 2011
Exports rose by 13.4% from a year earlier, which was less than November's year-on-year rise of 13.8%.
Import growth during December also slowed, rising 11.8% compared with the previous year, considerably lower than the 22.1% growth in November.
The latest figures could fuel worries that the world's second largest economy is losing steam.
"Our forecast for gross domestic product is already the lowest in the market. This trade data basically confirms our view that the first quarter is going to be very tough," said Zhang Zhiwei, chief China economist at Nomura in Hong Kong.
China's Vice Commerce Minister Zhong Shan also commented on Monday that the country's foreign trade environment could be bleak in 2012, as demand declines.

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