Slump in Japanese exports to harm GDP growth as inflation falls again

first_img whatsapp Slump in Japanese exports to harm GDP growth as inflation falls again Thursday 25 November 2010 7:56 pm whatsapp Show Comments ▼ Share JAPAN’S export market stalled in October, failing to grow on the previous month, it was announced yesterday.Compared to October 2009 Japanese exports grew 7.8 per cent, yet this was below the Bloomberg median projection of 10.7 per cent – and far weaker than September’s year-on-year growth of 14.3 per cent.Year-on-year improvements peaked in February, hitting a staggering 45.3 per cent. Rates of growth have been decelerating since – making October the eighth consecutive month in which export growth has decelerated. As exports fell, imports rose, growing by 8.7 per cent on the previous year, and 0.7 per cent on September. Exports fell to both of Japan’s key trading partners, China and the US. Yet the most drastic decline came in exports to the European Union. In September exports to the region increased by 11.2 per cent, yet last month they actually fell, recording a rate of -1.2 per cent.The decline could continue, and have a negative effect on Japanese GDP, according to observers. Kyohei Morita and Yuichiro Nagai of Barclays Capital Research “look for a decline in the fourth quarter as a whole. We believe exports – together with private consumption – will cause real GDP to contract during that period,” they added.Meanwhile, data yesterday revealed that Japan’s core consumer prices fell 0.6 per cent in October from a year earlier, down for the 20th consecutive month, pointing to persistent deflation. center_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndo KCS-content Tags: NULLlast_img read more