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February inflation up 2%, exports tumble on New Year effect
物价持续上涨压力 你感觉到了吗
Consumer prices rose 2 percent in February, the increase was the lowest in 13 months. Meanwhile, producer prices fell for the 24th consecutive month, dropping 2 percent year on year, showing manufacturers are still under pressure due to overcapacity.
On the trade front, Chinese exports tumbled 18.1% in February, following January’s 10.6 percent jump, and swings the trade balance into deficit. What’s worth pointing out is that there is the Chinese New Year effect, because the holiday fell earlier this year than last year. As a result, exporters were shipping more in January rather than February.
Chinese imports rose 10.1 percent in February. To recap, February inflation was benign, trade looks like a big drop but you’ve got to consider the new year distortion effect.
