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June had seen Japan’s exports recording a double-digit decline for four consecutive months. This suggests that the novel coronavirus pandemic tipped the world’s third-largest economy into its sharpest postwar slump, highlighting the possibility of a long and sharp global contraction.
The country’s exports dropped 26.2% in June from a year ago, data from the Ministry of Finance showed on Monday. The reading came sharper than the 24.9% decline predicted by economists in a Reuters survey. However, this placed milder than the 28.3% drop monitored in May- the sharpest decline since September 2009.
Worldwide demand for cars and other durable products has dropped since March as the virus crisis prompted many countries to implement lockdowns. Though more countries have resumed their economic operations, the trade data could drag optimism for a quick recovery in demand and in Japan’s export-reliant economy.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
KYC Policy