Reuters: Japan's exports post worst fall in 3 years as shipments to U.S., China drop20 November 2019 | 04:43 | FOCUS News Agency
Official data out on Wednesday showed Japan’s exports fell 9.2% year-on-year in October, a bigger decline than the 7.6% drop expected by economists in a Reuters poll.
The feeble results, driven by plummeting shipments of cars and aircraft engines to the United States and plastic materials to China, marked the longest run of declines in exports since a 14-month stretch from October 2015 to November 2016.
“The main impression from the figures is that exports to the United States are getting weaker,” said Takeshi Minami, chief economist at Norinchukin Research Institute.
The data comes after a preliminary reading of gross domestic product last week showed Japan’s economy post the worst growth in a year in the third quarter.
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