News Summary: China June imports, exports decline

AP News
Posted: Jul 10, 2013 2:04 PM

HITTING THE BRAKES: China's trade declined abruptly in June, in a sign growth in the world's second-largest economy might be cooling even more sharply than expected.

MISSING ESTIMATES: Exports fell by 3.1 percent compared with a year earlier and imports contracted by 0.7 percent. Both were below forecasts of growth in the low single digits.

EXPORT THIS: China's economic growth has slowed this year and is expected to fall further due to weak global demand and an effort by the Chinese central bank to cool a credit boom.