Japan’s exports rose at a faster-than-expected pace in February but slowed sharply from the previous month as exports to China waned amid the Lunar New Year holidays.
Exports rose 2.4 percent on year, Ministry of Finance data showed on Wednesday, above expectations for a 0.3 percent increase in a Reuters poll, but down from a 17 percent on-year rise in January.
Despite the above-view reading, exports were sharply lower compared to January’s reading largely due to 17.3 percent on-year drop in exports to China, which celebrated the Lunar New Year holiday during February.
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