Exports jump in China, but slide in imports signals economic weakness


A truck drives past shipping containers at a port in Lianyungang

By reuters.com

China’s exports picked up in the first two months of 2015, propelled by February’s exceptionally strong performance that was inflated by the timing of Lunar New Year, while a slide in imports pointed to persistent weakness in the economy.
Data released by the General Administration of Customs on Sunday showed that China posted a record trade surplus of $60.6 billion last month.
Exports rose 15 percent during the January-February period from a year earlier, quickening from a 6.1 percent annual rise in the whole of 2014 as demand from major markets improved.
February exports jumped 48.3 percent from a year earlier, the strongest rise since May 2010 and comfortably beat market expectations of 14.2 percent, but customs office cautioned about reading too much into the figure given seasonal distortions.
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