Exports from the Philippines increased for a third month in March with an 11% expansion. That was well below the 19% expected by economists. While shipments to China jumped 46% – the fastest since August 2014 – exports to the U.S. were unchanged and those to Japan slumped 23%. Panjiva data shows seaborne exports to the U.S. fell 19% in March, and while Chinese managers’ import expectations are still positive the level of optimism is falling. Exports of semiconductors increased 15%, though this lagged the 35% seen by Taiwan in February. Mineral exports nearly doubled, but may struggle in ...