China’s import levels collapsed in June. The data are another sign that raw materials needed for factories have dropped sharply due to lower demand, especially in Europe. China’s PMI was weak in the most recent reporting period. Inflation also rose only 2.2% year over year in June
The news raises a question about how quickly the Chinese economy has slowed and whether current GDP growth is well below 7%.
China’s trade surplus was $31.7 billion, but imports grew at a pace of only 6.3% in June compared to the same period last year. Exports rose 11.3%.
Piper Jaffray principal sales trader Andrew Sullivan said the data offered up a weaker picture of conditions within China and likely meant that economic data due out Friday would be weaker than forecast.
Douglas A. McIntyre
“The Next NVIDIA” Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.
China’s import levels collapsed in June. The data are another sign that raw materials needed for factories have dropped sharply due to lower demand, especially in Europe. China’s PMI was weak in the most recent reporting period. Inflation also rose only 2.2% year over year in June
