China Trade Surplus Narrows, Signaling Growth to Cool |
| Bloomberg - Jan 11, 2008 |
China's trade surplus narrowed in December and money-supply growth dwindled, signaling that the fastest economic expansion in 13 years may have peaked.
The trade surplus shrank to $22.7 billion from $26.2 billion in November, the Chinese customs bureau said in Beijing today. M2, the broadest measure of money supply, rose 16.7 percent to 40.3 trillion yuan ($5.55 trillion) from a year earlier, the smallest increase in seven months, the central bank said.
Exports grew at the slowest pace in two years, indicating that recent yuan gains, the cooling global expansion and cuts to export-tax incentives on polluting industries are beginning to bite. The central bank is still likely to take more measures to limit credit, ease inflation from an 11-year high and prevent the economy from overheating just as the U.S. expansion is faltering.
Read Full Article from Bloomberg
- Posted: 2008-01-11 10:49:27
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