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News Summary: China's Nov. trade weakens sharply

Source : AP
Last Updated: Mon, Dec 10, 2012 20:15 hrs

: 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.

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