Japan's exports post worst fall in three years as shipments to U.S., China slide
TOKYO - Japan’s exports tumbled at their quickest pace in three years in October, threatening to tip the trade-reliant economy into recession as weakening demand from United States and China darkened the outlook.
“The main impression from the figures is that exports to the United States are getting weaker,” said Takeshi Minami, chief economist at Norinchukin Research Institute. Some analysts have warned that the sales tax hike could damage the world’s third-largest economy, as the last such increase did in 2014, especially if domestic consumption cools sharply.
The export slowdown was partly due to strengthening of the yen in October and a typhoon hitting Japan, said Taro Saito, executive research fellow at NLI Research Institute.
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