Japan's exports climb a surprising 10.1% in May

06/19/2013 | Wall Street Journal, The

Abenomics got a boost from a 10.1% year-on-year surge in Japanese exports in May, although the gain was tempered by a widening trade deficit due to the weaker yen and a surge in imports. The export gain was more than double the consensus forecast of 5%. "This shows an increasing vigor of Japanese companies" coupled with rising corporate profits, which means that firms "are becoming more resilient to a potential external shock," said Junko Nishioka, chief economist at RBS Securities Japan.

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