Wednesday, September 26, 2007

Japan trade surplus nearly quadruples

The Rising Sun is rising again, economically that is. This is what's possible when you manufacture goods rather than base your economy on service industries.
Japan’s trade surplus nearly quadrupled in August from a year earlier as strong exports to Europe and Asia offset a slowdown in shipments to the United States, data showed on Wednesday, but economists were watching for possible fallout from softer US growth.

The data did not change views that the Bank of Japan will hold off from raising rates for a while given uncertainty about the impact of trouble in the US subprime mortgage market on the real economy.

Economists saw few signs that the global credit squeeze was taking a toll on overseas demand for Japanese goods.




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