Home | Breaking News | Japan trade data, factory survey show economy weakening
A man buys dried fish from a shop in Tokyo, Wednesday, May 18, 2016. Japan's economy grew at a better than expected 1.7 percent annual pace in the first quarter of this year, as solid consumer demand and higher government spending offset relatively weak business investment and sluggish exports. (AP Photo/Eugene Hoshiko)

Japan trade data, factory survey show economy weakening

WT24 Desk

TOKYO — Japan says its exports fell 10 percent from a year earlier in April and imports plunged 23 percent, as a monthly survey of factory managers showed the sharpest worsening in operating conditions in over three years,AP reports.

Customs figures released Monday show Japan posted a trade surplus of 823 billion yen ($9.1 billion) in April, compared with a deficit of 58.3 billion yen a year earlier.

A stronger Japanese yen exaggerated the decline in exports, but shipments fell in volume terms, too.

The key figure in a monthly survey of factory managers fell to 47.6 in May from 48.2 in April. A reading of 50 marks the line between contraction and expansion.

Economists said the latest data suggest exports will fall further in the current quarter.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

%d bloggers like this: