China revised down March exports by unexpectedly large margin, economists say

News Snapshot:

China’s customs administration has unexpectedly revised down the value of March exports by a wide margin, economists said, suggesting the country’s trade earlier this year may have been weaker than initially thought. The General Administration of Customs lowered the March exports figure by $10.55 billion, revising the month’s year-on-year growth to 11.4% from the prior 14.8%, the latest data tables on its website, reviewed by Reuters on Friday, showed. The original March data was stronger than expected, but exports lost steam and have been falling since May. Economists who previously cast doubt on the strength of the March data don’t...