China’s export-import growth slips
China suffered a minor setback in the growth of its exports and imports during July this year, newly revealed trade data showed. Some analysts warned that weaker import growth could be signaling a long-expected slowdown in the world’s second-biggest economy.
Raymond Yeung, chief economist for Greater China at Hong Kong-based ANZ, said, “External demand is not really worrying in terms of the outlook. But we have to be cautious about the import outlook.”
In the month under review, China’s export and import growth slowed to 7.2 per cent and 11 per cent, respectively. Exports cooled from an 11.3 per cent growth in June. Growth in imports slipped from 17.2 per cent in the previous month.
Analysts had expected the Asian country’s exports and imports to grow 10.9 per cent and 16.6 per cent in July, respectively.
The less than expected growth in China’s exports and imports have raised concerns over whether worldwide demand has started to cool even as many western central banks are considering rolling back of massive stimulus support.
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