China’s Imports Collapse in June

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%.

MarketWatch quoted a noted expert:

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

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.