New Chinese Trade Stats Were Just Bad

BEIJING (Reuters) - China's exports rose 4.7 percent in November from a year earlier, while imports dropped 6.7 percent, well below expectations and adding to concerns the world's second-largest economy could be facing a sharper slowdown.

The readings left the country with a trade surplus of $54.5 billion for the month, the General Administration of Customs said on Monday.

Economists polled by Reuters poll had expected an 8.2 percent rise in exports, a 3.9 percent rise in imports and a trade surplus of $43.5 billion.

Annual economic growth slowed to 7.3 percent in the third quarter - the weakest since the height of the global financial crisis - as the sagging housing market and tighter credit conditions weigh on the economy.

After saying for months that China does not need any big economic stimulus, the central bank unexpectedly cut interest rates for the first time in over two years on Nov. 21 to spur growth and bring down financing costs.

Economists expect more policy easing in coming months.

(China economics team; Editing by Kim Coghill)