Chinese export and import growth slowed markedly last month, flashing warning signals about both the domestic and the global economy.
Coming on the heels of weak industrial production data for July, the trade figures underlined China’s sluggish start to the second half of the year and were seen as making it more likely that the government would intensify its measures to stimulate growth.
Exports rose 1 per cent year on year in July, a six-month low and down from an 11.3 per cent pace in June. Well below expectations, the figure indicated flagging external demand.
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