Concerns over a slowdown in the Chinese economy have strengthened among investors today (July 10th) on the back of weak sets of trade data from the Asian nation.
The world's second-largest economy has been stuttering of late and exports fell 3.1 per cent in June when compared with the same month last year.
With analysts having forecast a four per cent rise, this shows the Chinese economy has not been performing as well as had been predicted.
However, even with the latest trade data, China's economy was found to have grown at an annual pace of 7.7 per cent in the January to March quarter. In the previous three-month period, this figure was 7.9 per cent.
"We expect both export and import data may remain at a relatively low level in the second half, due to weak demand at home and abroad," said Wang Jin, an analyst at Guotai Junan Securities in Shanghai.
The weak trade data from China is likely to have an impact on markets from all over the world, especially those in nearby Japan. Today, the Nikkei dropped by 0.4 per cent.
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