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China's June trade growth decelerates sharply amid weak global, domestic demand
BEIJING (AP) ¯¯¯ China's trade growth decelerated sharply in June in a new sign of a deepening slowdown in the world's second-largest economy.
Trade data on Tuesday showed the growth rate for imports fell by half from the previous month's level to 6.3 percent. Export growth also declined to 11.3 percent from May's 15.3 percent amid European and U.S. economic weakness.
China's economic growth has fallen to its lowest level since the 2008 global crisis. The country's premier warned last weekend it faces pressure to slow further despite interest rate cuts and other stimulus efforts.