Japan’s export growth slowed, with shipments to the United States slipping for the first time in almost three years, in an outcome underscoring the mixed prospects for Japan’s economic recovery.
Exports increased 5.6% in August from a year ago, decelerating from 10.2% in the previous month, the Finance Ministry reported Wednesday. The result, which missed the 10.6% consensus estimate from economists, was driven by a 9.9% decline in auto exports, with shipments of construction and mining machinery also sinking.
Imports climbed 2.3%, falling short of the 15% gain forecast by economists. The trade deficit widened to ¥695.3 billion ($4.9 billion).
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