Chinese Exports Surge Again, Up 21.8%
Chinese imports fell 15.2 percent year-over-year in February, missing economists’ expectations for an 8.5 percent decline.
This compares with a 28.8 percent rise in January.
But Chinese exports crushed expectations again rising 21.8 percent on the year, against consensus for an 8.1 percent rise.
The trade balance narrowed to $15.25 billion, but was above expectations for a deficit of $6.9 billion.
Bank of America‘s Ting Lu had predicted a 9.5 percent decline in exports because of the impact of the Chinese New Year. This differs significantly from the consensus view. Economists however consider this data with a pinch of salt because of distortions caused by the long holiday. Instead, the prefer to look at January-February data together.
SEE ALSO: Everything You Need To Know About The Chinese Renminbi >
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Chrissy Reese
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