Japan | Trade data, factory survey show economy weakening

Japan’s economy appears to be weakening as exports fell 10 percent and imports plunged 23 percent in April while a monthly survey of factory managers showed the sharpest deterioration in operating conditions in over three years.
Customs figures released Monday show Japan posted a trade surplus of 823 billion yen (USD9.1 billion) in April, compared with a deficit of 58.3 billion yen a year earlier.
A stronger yen exaggerated the drop in exports, but shipments fell in volume terms, too. The declines were seen in key industries, such as industrial machinery and vehicles.
The biggest drop in imports was a 49 percent decline in purchases of oil, gas and other fossil fuels. But imports of electrical machinery, food, raw materials and chemicals also fell.
Meanwhile, the key figure in a monthly survey of factory managers fell to 47.6 in May from 48.2 in April. A reading of 50 marks the line between contraction and expansion. Economists said the latest data suggest exports will fall further in the current quarter. AP