China’s exports rose 45.7% year-on-year in February, up from the 21% growth reported in January, the Wall Street Journal reported. The significant increase is largely seen as a result of base effects, as February 2009 marked the point of sharpest decline for China’s exports during the global financial crisis. Imports were up 44.7% in February, down from 85.5% growth in January; January’s figure also reflected a low base. The data were also affected by February’s Lunar New Year holiday. Economists expect exports to gradually recover over the course of 2010, though government officials have warned that a full export recovery will take several years. The "new export orders" component of the official Purchasing Managers’ Index fell to 50.3 in February, from 53.2 in January.
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