Japan trade data dims growth prospects as China leads decline in Asia exports
Publishing timestamp: 2023-08-17 00:03:51
Summary
Japan's exports fell 0.3% in July, marking the first decline in over 2 years, due to weaker demand in China and the rest of Asia. Imports also slumped 13.5% in July. The decline in exports to China and Asia was partially offset by an increase in exports to the US and Europe, but there are concerns about uncertainties in those economies. Japan's domestic demand showed no improvement, and the country swung to a trade deficit. The Bank of Japan is unlikely to move away from its ultra-easy monetary policy, and there are concerns about the weakness of the Japanese yen. Core machinery orders also declined in July.
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Keywords: business news, asia economy, trade, china, usd/jpy, economic events, japan,