Why am I not seeing anyone back out the implied growth rate from these numbers?

The 13.8% decline in imports was significantly worse than consensus expectations for an 8.2% decline, and will only add to concerns over declining Chinese demand.

Under what required assumptions would this translate into a growth rate of say four percent?  Backward-looking?  Forward-looking?  Or is this just a slow structural shift as the Chinese economy gradually moves into services?  Inquiring minds wish to know.

The full report is here.


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