MNI BRIEF: BOJ Real Export Index Rises 4.0% Q/Q in Q3
MNI (TOKYO) - The Bank of Japan's real export index, calculated using Ministry of Finance trade data, rose 4.0% q/q in the July-September period for the second straight rise following a 0.5% gain in the April-June quarter, data released by the BOJ showed on Thursday.
The figures were calculated by MNI based on BOJ data and confirmed by bank officials. The BOJ will release details of the index on Tuesday.
Bank officials are focused on how the real export index to the U.S. evolved in September from August's 2.2% drop as they see Japanese exports depend considerably on the U.S. economy.
Japan’s exports posted the first year-on-year drop in 10 months in September, down 1.7% following +5.5% in August, data released by the MOF showed.
Exports to the U.S. fell 2.4%, the second straight drop, following -0.7% in August, which was the first fall in 35 months, showing the economy is slowing.