Chinese exports and imports rose strongly in January, pointing towards solid growth both in China and abroad at the start of 2013. Inflation in China also receded last month, slowing to 2 per cent from 2.5 per cent in December.
But analysts called for caution in interpreting the figures because next week’s Chinese New Year holiday will have caused significant distortions since companies tried to push as much business as possible into January before work came to a halt.
Moreover, the timing of the holiday – which fell in January last year but February this year – likely made trade growth appear stronger and inflation weaker in year-on-year terms than are really the case.
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