Japanese Exports Slow As U.S. Demand Plummets
Japanese exports slowed to lows last seen in January 2006 as orders to the U.S. plummeted. August shipments to the North American country fell by -19.1% on a yearly basis. The overall reading for the metric fell -1.8% as global demand for electronics and durable goods took a back seat to food and other necessities.
Exports had been the leading driver in the Japanese economy throughout the decade. But as August’s turnaround continues to show the effects of U.S. slowing, the notion of a rebound for the Asian economy may be an unrealized hope for now.
The Yen traded at 106.04 at 8:57 EST.
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