Plummeting Chinese Exports Shock Economists |
| Washington Post - Mar 11, 2009 |
China's exports plunged by more than 25 percent in February, compared with the same month a year earlier, shocking economists who had predicted that demand would remain stable or decrease only slightly.
The trade figures showing $64.9 billion in exports that were released Wednesday by the customs bureau are the latest in a string of worrisome signs that a recovery of the world's third-largest economy might not come as quickly as China's leaders had hoped.
"This is an ugly number," concluded Merrill Lynch economists T.J. Bond and Ting Lu in a note to clients. China's exports had continued to rise in 2008 despite the economic troubles in other parts of the world, jumping 4.3 percent year over year in the fourth quarter. But now, Bond and Lu wrote, "The export slowdown has finally come home to China."
Read Full Article from Washington Post
- Posted: 2009-03-11 08:08:01
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