Chinese exports miss forecasts

Chinese exports rose 10% in March compared with a year earlier, down from 21.8% growth in February and missing analyst estimates for the first time in four months, Bloomberg reported. A Bloomberg News survey of 36 economists gave a median estimate of 11.7% growth. However, both imports and the trade deficit beat analyst forecasts: Imports rose 14.1% annually in March, increasing the trade deficit to US$880 million. During the announcement on Wednesday, the customs agency also refuted claims by economists that the country’s export figures have been inflated in previous months because of companies overstating reported trade.