Photo: REUTERS/Aly Song
Chinese imports fell 15.2 per cent year-over-year in February, missing economists’ expectations for an 8.5 per cent decline.This compares with a 28.8 per cent rise in January.
But Chinese exports crushed expectations again rising 21.8 per cent on the year, against consensus for an 8.1 per cent 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 per cent 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.
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