China’s exports rise 2.3% in December amid uneven recovery, while consumer prices edged lower

By ZEN SOO
AP Business Writer

HONG KONG (AP) — China has reported that its exports grew slightly for a second consecutive month in December even as deflationary pressures continued. Official data released Friday underscored the uneven nature of the country’s economic recovery from the pandemic. Exports rose 2.3% year-on-year in December to $303.6 billion. It’s a sign that demand may be picking up after months of decline earlier in the year. Imports also rose, by 0.2% to $228.2 billion. But falling prices remain a sign of weakness. Consumer prices fell 0.3% in December, the third consecutive month of declines. Demand for Chinese exports has been weak since the Federal Reserve and central banks in Europe and Asia began raising interest rates last year to cool inflation that was at multi-decade highs.