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MNI BRIEF: BOJ'S Q3 Real Export Index Rises 3% Q/Q

(MNI) Tokyo

The Bank of Japan's real export index, calculated using Ministry of Finance trade data, rose 3% q/q in the September quarter for the first rise in two quarters following a 3.2% fall in the April-June quarter.

The real export index rose 1.7% m/m in September for the first rise in two months following a revised 0.9% decline in August.

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 don’t expect exports and industrial production to fall immediately given their view the U.S. economy will remain solid as it will take time for the Federal Reserve's rate hikes to cause the economy to slow.

They are worried about a bigger downturn of the U.S. economy next year, given the rapid and larger rate hikes, and their impact.

MNI Tokyo Bureau | +81 90-2175-0040 |
MNI Tokyo Bureau | +81 90-2175-0040 |

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