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Japan’s Exports Increase in Support for Second Quarter Growth
Japan’s exports grew for a seventh consecutive month in June, supporting the view that in the second quarter the economy will recover from its contraction at the start of the year. Exports gained 5.4% from a year ago, led by chip-making gear and non-ferrous metals, the Finance Ministry reported Thursday. The result missed economists’ consensus estimate of a 7.2% increase. Imports rose 3.2%, compared with a 9.6% gain estimated by analysts. With a smaller-than-expected rise in imports, the trade balance turned to a surplus of ¥224 billion ($1.4 billion) from a deficit of ¥1.22 trillion in May. While the trade ... (full story)