Biggest fall in Chinese exports in seven years hits UK mining shares
Official figures released in Beijing showed that exports in February were down 25.4% on a year earlier, the worst performance since May 2009
Hands up who wanted more stimulus. Image of Dongtai Lu antique market figurines in Shanghai, 2007 by claudio zaccherini / Shutterstock.com
Shares in mining companies fell heavily in the City after the biggest fall in China’s exports in almost seven years rekindled concerns about the impact of a slowdown in the world’s second-biggest economy on the rest of the world.
Official figures released in Beijing showed that exports in February were down 25.4% on a year earlier, the worst performance since May 2009, the trough of the global recession. News that imports were down by 13.8% – the 16th successive decline – resulted in a reversal of the recent rally in the price of oil and industrial metals.
Comments
No comments yet.
