Export growth surges in February

Export growth surges in February

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China's exports increased 21.8% year-on-year in February, surpassing expectations and signaling a rebound for an economy largely dependent on outbound shipments, Bloomberg reported. A survey by the news service projected an 8.1% rise as growth was expected to be held back by fewer working days as a result of Chinese New Year. Combined export growth for January and February climbed 23.6% from a year earlier, compared to 6.8% year-on-year increase in the first two months of 2012. Imports slowed to 15.2%. The drag in imports during the beginning of 2013 has fueled concerns that domestic consumption is slowing.