China’s Weak Trade Data Signals More Economic Pain to Come

China’s imports unexpectedly shrank in November from a Covid-hit period a year ago, while exports edged up from a low base, suggesting the nation’s slowing economy still hasn’t bottomed out.

Imports in dollar terms declined 0.6% after clocking an improvement the previous month, according to official data released Thursday. That was worse than economists’ consensus forecast of a 3.9% gain.

Overseas shipments rose 0.5% from a year ago, slightly better than the consensus estimate of no change, and marked the first year-on-year expansion since April. The resulting trade surplus was $68.39 billion.

“Domestic demand is not really improving, even ...