Japan's export growth slowed sharply in August amid shipments to the United States falling for the first time in three years. Machinery orders unexpectedly contracted in July, a worrying sign for an economy struggling to make a strong recovery.
Weak external demand is undermining Japan's efforts to drive sustainable economic growth, especially given the growing prospect of a slowdown in the United States and a weakening economy from China, Japan's two major trading partners. Total exports rose 5.6 percent in August year-on-year, marking an increase for the ninth consecutive month, but well below the market's median forecast for 10 percent growth, and following a 10.3 percent rise in July.
Source (Al-Arabiya.net Website, Edited)
