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MNI BRIEF: May Real Export Index Drops 3.5% M/M - BOJ

(MNI) Tokyo
(MNI) TOKYO

The Bank of Japan's real export index, calculated using Ministry of Finance trade data, fell 3.5% m/m in May for the first drop in four months following an unrevised 2.7% gain in April, data released Thursday showed .

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.

The average index for April-May rose 1.5% over the average index for Q1.

The BOJ in March lowered its assessment on exports and production following weak data caused by the slowing global economy. The Bank noted exports and industrial production had been mostly flat.

BOJ officials expect the slowing global economy to weigh on exports and production, but they do not expect a sharp fall as supply-side restrictions ease and capital investment-linked to R&D remains solid.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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