Japan's exports likely contracted at the fastest pace in more than three ye...
TOKYO - Japan’s exports likely contracted at the fastest pace in more than three years in August, a Reuters poll showed on Friday, indicating increasing pressure on shipments as the economy is being hit by the U.S.-China trade war and slower global growth.
Exports in August are forecast to have slumped 10.9% from a year earlier, which would be the biggest shrinkage since 14.0% in July 2016 and a far sharper one than July’s 1.5% drop. “Weak demand due to an overseas economic slowdown especially centered on China pushed down both export volumes and prices,” said Kenta Maruyama, economist at Mitsubishi UFJ Research and Consulting.
That would mark the weakest price growth since July 2017, when the index also expanded 0.5% and a deterioration from 0.6% in the previous month. The BOJ has been brainstorming ways to deepen negative interest rates at minimal cost, as it considers adopting it as a main policy response to a slowing economy and growing global risks, sources familiar with the bank’s thinking have said.
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