1776 Coalition :: China warns of ‘grim’ trade outlook after surprise exports fall

China warns of ‘grim’ trade outlook after surprise exports fall

by
July 10, 2013

BEIJING | China warned on Wednesday of a “grim” outlook for trade after a surprise fall in June exports, raising fresh concerns about the extent of the slowdown in the world’s second-largest economy and increasing the pressure on the government to act.

China’s reform-minded new leaders, including Premier Li Keqiang, have shown a tolerance for slower growth, while pressing ahead with efforts to revamp the economy for the longer term, but any continued slide in economic performance could test their resolve.

The customs data showed that exports fell 3.1 percent in June against forecasts for a rise of 4 percent, casting a shadow over second-quarter GDP figures due on Monday that are already expected to show growth slowed down to 7.5 percent as weak demand dented factory output and the pace of investment.

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