China february exports post worst fall since may 2009

by MR Magazine Staff

China’s February trade performance was far worse than economists had expected, with exports tumbling the most in over six years, days after top leaders sought to reassure investors that the outlook for the world’s second-largest economy remains solid. Exports fell 25.4 percent from a year earlier, twice as much as markets had feared as demand skidded in all of China’s major markets, while imports slumped 13.8 percent, the 16th straight month of decline. The export drop was the biggest since May 2009, but economists said it may not necessarily point to a significant worsening in economic conditions due to sharply reduced business activity during the long Lunar New Year holidays, which fell in early February this year. Read more at Reuters.