Data shows Chinese, global demand weakening

A man polishes an iPhone cover in a factory in Dongguan, China.
CBS News

(AP) BEIJING - China says its trade rebounded in February after a Lunar New Year slowdown but a broader measure gave clear signs both global and Chinese demand are weakening.

Customs data Saturday showed exports grew 18.4 percent over a year earlier, up from January's 0.5 percent contraction. Imports jumped 39.6 percent, up from the previous month's decline of 15 percent.

China's exporters have been hurt by weakening global demand amid Europe's debt crisis and U.S. economic troubles. Imports have been supported by relatively strong Chinese economic growth but that also is easing.

Combined data for January and February showed export growth fell to 6.9 percent over the same two-month period last year, well below December's 13.4 percent. Imports for the two-month period rose 7.7 percent, down from December's 11.8 percent.