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MNI BRIEF: BOJ's July Real Export Index Rises 1.7% M/M

(MNI) Tokyo
(MNI) Tokyo

BOJ's export index suggests further easing of supply chains in Asia.

True

The Bank of Japan’s real export index, calculated using Ministry of Finance trade data, rose 1.7% m/m in July for a third monthly straight rise. The figures were calculated by MNI based on BOJ data and confirmed. The July index rose 3.1% when compared on a like for like basis with Q2's 3.2% q/q decline.

BOJ officials saw both exports and production rebounded, helped by an easing in supply-side restrictions. However, they will monitor the impact of planned power outages in China on Japanese manufacturers' factories. Exports of automobiles rose 13.7% in July, accelerating from +0.4% in June, showing the impact of the supply-side restriction on automobile makers is easing.

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The Bank of Japan’s real export index, calculated using Ministry of Finance trade data, rose 1.7% m/m in July for a third monthly straight rise. The figures were calculated by MNI based on BOJ data and confirmed. The July index rose 3.1% when compared on a like for like basis with Q2's 3.2% q/q decline.

BOJ officials saw both exports and production rebounded, helped by an easing in supply-side restrictions. However, they will monitor the impact of planned power outages in China on Japanese manufacturers' factories. Exports of automobiles rose 13.7% in July, accelerating from +0.4% in June, showing the impact of the supply-side restriction on automobile makers is easing.

Keep reading...Show less