China’s exports, imports growth slips in November

Growth in China’s exports and imports slowed in November from one year earlier, causing the country’s monthly trade surplus to contract to 19.63 billion US dollars, customs data showed Monday. Exports rose 2.9% from a year earlier in November, below market expectations for a 9% increase and October’s 11.6% growth, according to China’s (Xinhua) News Agency. Imports were flat compared with November 2011, weaker than the 2.4% rise in October, the General Administration of Customs said. Foreign trade surplus narrowed to 19.63 billion US dollars last month from 31.99 billion US dollars in October and 27.67 billion US dollars in September. In the first 11 months, China’s foreign trade increased 5.8% from a year ago, below the government’s annual target of 10%. The trade data came after government figures on Sunday showed a revival in the world’s second-largest economy. Figures showed the country’s industrial output continued to pick up, consumer inflation remained low, while retail sales maintained strong growth.