China reported worse than expected trade data for the month of February, customs data showed amid Beijing's trade dispute with the U.S. - CNBC
div > div.group > p:first-child"> Dollar-denominated exports plunged 20.7 percent for the month of February from a year ago, missing economists' expectations of a 4.8 percent decline, according to a Reuters poll. January exports had risen 9.1 percent from a year ago.
China's politically sensitive trade surplus with the U.S. narrowed sharply to $14.72 billion in February from $27.3 billion in January. Analysts also caution that data from China at the beginning of the year may be distorted by week-long Chinese New Year public holidays, which started in early February this year. In 2018, Chinese New Year holidays started in mid-February.
"A row back in U.S. tariffs would provide a mild boost to exports but not enough to offset the broader external headwinds. Meanwhile, with policy stimulus unlikely to put a floor beneath growth until the second half of the year, imports will remain under pressure in the near-term," he added.
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