December Trade Data Shows China Suffered Worst Fourth Quarter in 2 Years
China, the world's second largest economy, saw a decline in both imports and exports between October and December with a GDP growth of 8.7 percent, which is down a full percentage point from the first quarter. Investors were mostly surprised at the slump of import growth that sunk to a 26 month low of just 11.8 percent year-on-year versus the 17 percent figure economists predicted in a Reuters poll. Exports remained on par with expectations, although the 13.4 percent recorded in December is the slowest since November 2009. "The main disappointment is with imports, which show a much weaker number…