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Japanese exports rebound, but sustainability questions cloud future
JAPANESE exports increased at their fastest pace in seven months in September as sales to Asia picked up, but sustainability doubts still cloud the horizon, Reuters reports.
Exports to Asia, which account for more than half of Japanese shipments, increased 8.1 per cent year on year in September based on demand for electronic parts and metals from China and Vietnam.
Sales to China also gained an annual 8.8 per cent, but exports have disappointed for much of this year because many companies have shifted production overseas, tempering the benefits of weaker yen.
"Exports staged a rebound but they still lack momentum as Japanese firms shift production abroad and global growth remains moderate," said Takeshi Minami, chief economist at Norinchukin Research Institute.
"The [central] bank may insist that the economy is on track to meet its inflation goal, but I see it will come under pressure for fresh stimulus sooner or later," he said.
Exports to Asia, which account for more than half of Japanese shipments, increased 8.1 per cent year on year in September based on demand for electronic parts and metals from China and Vietnam.
Sales to China also gained an annual 8.8 per cent, but exports have disappointed for much of this year because many companies have shifted production overseas, tempering the benefits of weaker yen.
"Exports staged a rebound but they still lack momentum as Japanese firms shift production abroad and global growth remains moderate," said Takeshi Minami, chief economist at Norinchukin Research Institute.
"The [central] bank may insist that the economy is on track to meet its inflation goal, but I see it will come under pressure for fresh stimulus sooner or later," he said.
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