May Chinese Exports to U.S. and EU Fall to Lowest Levels Since November 2009, Bolstering Case for Global Slowdown
By Trader Mark
10 June 2011 @ 09:57 am EDT
Blame Japan, blame the weather, or blame higher oil prices but it appears the bond market nailed it again (yields peaking in April) - the past few months have seen a significant slowdown in economic activity. As the world's largest exporter, [Jan 6, 2010: China Passes Germany as the World's Largest Merchandise Exporter] China's monthly data is watched closely as a gauge of demand; May's data for the EU and U.S. were the weakest since November 2009. On the positive side, Chinese imports were strong, potentially signaling their economy is not weakening as quickly as feared of late. But much of that import strength came via coal and oil, as the country deals with energy shortages.
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