China simply posted a stun exchange deficiency as Lunar New Year mutilations wreak devastation on the information Business Insider Australia

“Photo: Getty Images.
Chinau2019s February trade report has stu
ed financial markets.
Imports surged while export growth slowed, leading to a shock trade deficit being recorded.
According to Chinau2019s General Administration of Customs, yuan-denominated imports jumped by 44.7% from the levels of a year earlier, easily surpassing the 25.2% growth of January and forecasts for a smaller increase of 23.1%.
Truly enormous, and no doubt impacted by booming commodity prices and a weaker yuan over the past year.
Distortions created by the timing of the Lunar New year u2014 often a feature in the trade figures and other Chinese economic data at this time of year u2014 almost certainly were another factor.
In USD-denominated terms, imports grew by 38.1% year-on-year, close to double the pace of January and well ahead of estimates for an increase of 20%.
It was the fastest a
ual growth rate in five years.
The smaller increase in dollar terms reflects weakness in the yuan over the past year, helping to boost the value of exports when priced in local currency.”

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