Japan exports post huge miss in September as growth slows to 16.7%
Japan's imports grew 18.9%, also missing expectations of 19.6% from Reuters.
TL;DR
- Japan's September exports rose 16.7%, below the expected 20.1%.
- This is the second month of export slowdown after a near four-year high in July.
- Semiconductor exports surged 49.4% and machinery exports increased, including semiconductor-related machinery (43.9%) and power generation machinery (22.6%).
- Exports to mainland China increased 8.6%, and to the U.S. climbed 22.9%.
- Japan's imports grew 18.9%, missing the expected 19.6%.
- Petroleum imports climbed 51.1%, with a significant surge from the U.S.
- The stock market (Nikkei 225 and Topix) saw gains following the data release.
- The Bank of Japan is expected to hold its policy rate steady at 1% at its upcoming meeting.