News Summary: China's Nov. trade weakens sharply

News Summary: China's November trade weakens, adds to challenges for gradual economic recovery

Associated Press

WEAK DATA: China's trade weakened sharply in November, with export growth plunging to 2.9 percent over a year earlier from the previous month's 11.6 percent and imports flat, down from October's 2.4 percent growth. The figures were in line with analysts' warnings that a trade rebound that began in August was unsustainable due to weak global demand.

RECOVERY SIGNS: The trade weakness comes as stronger factory production and consumer spending show China is starting to emerge from a deep economic downturn.

INCREASED RISKS: Global demand for China's goods is so weak that the government has said exports likely will contribute nothing to this year's overall economic growth.

Rates

View Comments