China November trade weakens
China's November trade weakens; export growth falls to 2.9 percent, no growth in imports
BEIJING (AP) -- China's November trade growth decelerated sharply, with import growth falling to zero, despite signs the world's second-largest economy is recovering from a slowdown.
The government reported Monday that export growth declined to 2.9 percent over a year ago from the previous month's 11.6 percent. Import growth fell from October's 2.4 percent.
Analysts had forecast a slowdown in a trade rebound that began in August, which they said was unsustainable due to weak global demand.
The government reported earlier that November factory output grew 10.1 percent and consumer spending rose 14.9 percent, a sign China is recovering from a slump that pushed growth to a three ½ year low in the quarter ending September. Forecasters say growth likely is rebounding in the current quarter.
