China's Exports Surge in February: A Sign of Global Economic Recovery?
Mar 8th 2013 7:00AM
China's exports jumped in February, which may indicate a recovery of the economy across most of the rest of the world. Or it could be that inventories of goods are low in many nations and have to be restocked.
According to UPI:
China's February exports, spurred by demands from the United States and other markets, rose 21.8 percent annually to $139.37 billion, a government agency said.
In a further demonstration of China's strong recovery in its foreign trade, the General Administration of Customs said Friday imports fell 15.2 percent year-on-year to $124.12 billion, yielding a monthly trade surplus of $15.25 billion.
In February of last year, China had a trade deficit of $31.98 billion.
The agency said, however, the numbers would be different when making allowance for seasonally-adjusted factors such as four fewer working days in February due to the Spring Festival.
Filed under: 24/7 Wall St. Wire, China, International Markets