China’s exports tumble the most in three years in February, spur fears of ‘trade recession’ GlobeBusiness
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February exports fell 20.7 per cent from a year earlier, the largest decline since February 2016, customs data showed. Economists polled by Reuters had expected a 4.8 per cent drop after January’s unexpected 9.1 per cent jump. Analysts warn that data from China in the first two months of the year should be read with caution due to business disruptions caused by the long Lunar New Year holidays, which came in mid-February in 2018 but started on Feb. 4 this year.
China’s data on Friday showed its surplus with the United States narrowed to $14.72-billion in February from $27.3-billion in January, and it has promised to buy more U.S. goods such as agricultural products as part of the trade discussions.
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