Friday, July 23, 2004

Hmm, maybe I spoke too soon Wednesday about Japan's self-sustaining recovery (from FT).
Growth in Japan's exports picked up sharply in June, soothing fears that the strength of external demand driving a recovery in the world's second largest economy was waning.

Exports were up 19.4 per cent from a year ago at Y5,288bn, the best monthly growth so far in 2004, according to finance ministry data released on Thursday.

The figures marked an end to a recent slide in the pace of export growth, which slipped from 13 per cent in March to under 10 per cent in May and led some economists to suggest the external demand cycle had peaked.

. . . Japan's trade surplus expanded by almost 37 per cent from a year ago to Y1,147bn.

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