“China reports surge in January trade; exports jump 25 percent, imports 28 percent.
“China has reported better-than-expected trade data, fuelling optimism that its economic growth may be rebounding from the recent slowdown.
Exports, a key growth driver, surged 25% in January from a year earlier. Most analysts had forecast a 17% jump.
Imports surged 28.8% indicating a robust pick up in domestic demand.
China’s growth rate slipped to 7.8% in 2012, the slowest annual pace since 1999, fuelling worries about the health of the world’s second-largest economy.
“China’s economic conditions are improving and the trade data confirms the continuation of a recovery trend,” said Hirokazu Yuihama, senior strategist at Daiwa Securities.
“Not just the trade data but retail, production and investment flows clearly show that the economy bottomed out in the third quarter last year.”