China's exports also fell in November

According to China's General Customs Administration data, exports decreased by 8.7 percent in November compared to the same period last year. In October, exports fell by 0.3 percent.

Economists had expected a 2 percent drop in exports in November. In November, imports also fell more than expected. While the decline in imports was 10.6 percent in November, the expectations were for a decrease of 4 percent.

China's trade surplus came in at $69.84 billion in November, below October's $85.15 billion and expectations of $78.05 billion.

In trade between the United States and China, China's trade surplus fell to $24.33 billion in November from $39.19 billion in October.