Friday, 26 November 2010

Japanese exports slow, consumer prices decline

The relatively weak run of economic data from Japan recently is continuing.

A report on Thursday showed that the export recovery is stalling. From Bloomberg:

Japan’s export growth slowed more than forecast in October, weakening the boost from trade that has led the nation’s recovery from its deepest postwar recession.

Overseas shipments increased 7.8 percent from a year earlier, the Finance Ministry said in Tokyo today. The median estimate of 21 economists surveyed by Bloomberg News was for a 10.7 percent gain...

Imports climbed 8.7 percent in October from a year earlier and the trade surplus widened to 821.9 billion yen, today’s report showed. Seasonally adjusted, exports were unchanged and imports rose 0.7 percent from September.

Meanwhile, the country remains in deflation. From Bloomberg today:

Japan’s consumer prices fell for a 20th month in October, with declines moderating after the government raised tobacco taxes.

Consumer prices excluding fresh food fell 0.6 percent from a year earlier after dropping 1.1 percent in September, the statistics bureau said today in Tokyo. The government’s Oct. 1 tax increase, which boosted the cost of cigarettes by a third, added 0.28 percentage point to the figure, the bureau said.

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