Markets Pressured as China Export Data Shows Sharp Drop in Feb. (FXI) (UUP)
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Chinese trade data is pressuring stocks Monday morning.
According to China's General Administration of Customs, exports fell 18.1 percent in February, more than offsetting a 10.6 percent gain the prior month. Imports rose 10.1 percent for a net trade deficit of $23 billion, from a surplus of $32 billion in January.
Market consensus views called for a 6.8 percent gain in Chinese exports, 8 percent gain in imports, and surplus of $14.5 billion for February.
Combined exports in January and February fell 1.6 percent over the same period in 2012 and imports rose 10 percent.
Exports to the U.S. rose 1.3 percent in January and February, while those to the Europe Union increased 4.6 percent.
Analysts were cautious on reading too much into the data. Many offices and factories close during Chinese Lunar New Year, which starts at the end of January and runs through early February.
According to China's General Administration of Customs, exports fell 18.1 percent in February, more than offsetting a 10.6 percent gain the prior month. Imports rose 10.1 percent for a net trade deficit of $23 billion, from a surplus of $32 billion in January.
Market consensus views called for a 6.8 percent gain in Chinese exports, 8 percent gain in imports, and surplus of $14.5 billion for February.
Combined exports in January and February fell 1.6 percent over the same period in 2012 and imports rose 10 percent.
Exports to the U.S. rose 1.3 percent in January and February, while those to the Europe Union increased 4.6 percent.
Analysts were cautious on reading too much into the data. Many offices and factories close during Chinese Lunar New Year, which starts at the end of January and runs through early February.
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