Japan's Imports Rebound In July, But Trade Surplus Narrows

Japan's exports rebounded in July, a month which saw China replace the U.S. as the nation's largest customer. Overseas shipments were 8.1 percent from a year earlier, after declining for the first time since 2003 in June, according to data from the Finance Ministry in Tokyo today. Exports to China climbed 16.8 percent while shipments to the U.S. were down 11.5 percent on the year.Exports to China

Japan's Economy Contracts In Q2 2008

Japan's economy contracted in the second quarter of 2008, bringing the country to the threshold of its first recession in six years, as exports fell and consumers spent less. Gross domestic product was up by 1% over the second quarter of 2007, but down by 0.6% over Q1 2008. So the recession many observers were anticipating in the last quarter of 2007 may now have arrived in the second quarter of

Japanese Consumer Confidence Drops Again In July

Japanese consumers became the most pessimistic they've been in at least 26 years, indicating their spending is unlikely to trigger a recovery in the world's second-largest economy. The sentiment index dropped to 31.4 last month from 32.6 in June, the Cabinet Office said today in Tokyo, the lowest since the government began compiling the figures in 1982. The government last week said Japan may be

Japan - Gearing Down for a Recession

By Claus Vistesen CopenhagenIn my last note on Japan, I asked how much longer Japan could continue to fight off the incoming recession faced with a continuing shaky outlook on exports as well as a domestic economy steadily slowing down. Well, it seems as if the answer to this question can now be provided. With the recent news that industrial production continues its slowdown as well as the news

Economy Watchers Index Falls Again In July

Sentiment among Japanese small businesses fell in July to the lowest level since the last recession as higher food and oil prices discouraged consumers from spending. The Economy Watchers index, a survey of barbers, taxi drivers and others who deal with consumers, dropped to 29.3, the lowest since October 2001, from 29.5 in June. An index of forward looking conditions two to three months ahead

Japan Leading Indicator Drops Again and June Machinery Orders Fall

The Japanese government conceded yesterday that Japan's longest running postwar period of economic expansion might now be over as it reported a drop in its key measure of underlying economic conditions for June. The June coincident indicators index fell a preliminary 1.6 per cent and the government downgraded its assessment of the economy to "deteriorating". This effectively constituted an