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Weak export casts doubt on 2nd-half recovery
By Wang Yanlin |
August 10, 2012, Friday
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Online Edition
Online Edition
CHINA'S exports grew only 1 percent from a year earlier in July, the slowest pace in three years and a sharp fall from June's growth of 11.3 percent, the General Administration of Customs said today.
Imports expanded 4.7 percent to US$151.8 billion last month, the pace of which was also slower than June's 6.3 percent.
China's trade surplus was US$25.1 billion in July, compared with US$31.7 billion the previous month.
"The deterioration in trade is worse than our worst expectation," said Xue Jun, an analyst at CITIC Securities Co. "It sends a strong signal of shrinking external demand, and the Chinese authorities should consider more policy easing to drive growth."
Data released yesterday by the National Bureau of Statistics also showed less-than-expected growth in industrial production, fixed-asset investment and retail sales. The poor result made economists less confident about a modest recovery in the second half.
Imports expanded 4.7 percent to US$151.8 billion last month, the pace of which was also slower than June's 6.3 percent.
China's trade surplus was US$25.1 billion in July, compared with US$31.7 billion the previous month.
"The deterioration in trade is worse than our worst expectation," said Xue Jun, an analyst at CITIC Securities Co. "It sends a strong signal of shrinking external demand, and the Chinese authorities should consider more policy easing to drive growth."
Data released yesterday by the National Bureau of Statistics also showed less-than-expected growth in industrial production, fixed-asset investment and retail sales. The poor result made economists less confident about a modest recovery in the second half.
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