BBC News – China export and import demand dips amid global fears

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BBC News – China export and import demand dips amid global fears:

The demand for Chinese exports fell in January as global economic uncertainty continued to hurt consumer confidence.

Latest government data showed China’s new export order index fell to 46.9 from 48.6 in the previous month.

The imports index also dropped to 46.9 from 49.3 in December, showing that domestic demand was slowing.

The data comes amid concerns over the impact of a global slowdown on China’s economy.

Analysts said that Chinese exporters were being hurt by falling demand in key markets such as the US and Europe due to the ongoing economic problems in those economies.

“The economic situation in Europe continues to remain grim. It seems like the eurozone will not be able to avoid a recession in 2012,” Stephen Joske of the Economist Intelligence Unit told the BBC.

“There is no doubt that China’s exports will have a tough year ahead.

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