News Summary: China Jan. trade soars

AP News
Posted: Feb 08, 2013 12:29 PM

HAPPY NEW YEAR: China's trade growth surged in January. Exports soared 25 percent over a year earlier, as companies rushed to fill orders before shutting down for up to two weeks for Lunar New Year holiday. Import growth rocketed to 28 percent.

LOOKING GOOD: China's trade growth has rebounded in recent months, but longer-term measures are likely to show lower growth than January's double-digit increase.

WEAK BY COMPARISON: The World Bank and other forecasters expect China's economy to grow about 7.5 percent this year. That would be stronger than the West and Japan but the weakest showing since the 1990s.