BEIJING (Reuters) — China’s export and import growth in the January-February period beat forecasts, suggesting global trade is turning a corner in an encouraging signal for policymakers given protracted weakness in manufacturing has been a drag on the economy.
China’s exports in the two months were 7.1% higher than a year before, customs data showed on Thursday, beating a Reuters a poll that expected an increase of 1.9%. Imports were up 3.5%, compared with a poll forecast for growth of 1.5%.
Exports had risen 2.5% and at a far quicker pace in December, buoyed by a cyclical rebound in consumer demand overseas for semiconductors and electronics.
The customs agency publishes combined January and February trade data to smooth out distortions caused by the shifting timing of the Lunar New Year, which this year fell in February.
https://asia.nikkei.com/Economy/Trade/China-s-exports-beat-forecasts-rise-7.1-in-January-February