Japan August data shows a big miss for both exports and imports – recap

The Bank of Japan meet this week, announcement due on Friday September 20.

The Bank is not expected to hike rates again:

• Bank of Japan meeting this week – preview (no rate change expected)

Ueda and his colleagues will be eyeing the data showing slowing export growth:

• Japan August exports +5.6% y/y (expected +10.0%) & imports +2.3% y/y (expected +16.6%)

In summary:

• exports rose for a ninth straight month, but at a
  much slower-than-expected pace in August
• shipment volumes
  fell 2.7% y/y, the seventh consecutive month of declines
• indicating
  slowing global demand is impacting a previously bright light for Japan’s economy
• imports showed a huge miss also, weaker import performance is often a sign of an economy slowing down

This article was written by Eamonn Sheridan at www.forexlive.com.