Economist takeaways on Japan’s trade data - BBG
|Bloomberg run a story on dismal Japanese trade data, offering afterthoughts from a couple of economists.
Trade deficit for January was 1.1 trillion yen ($9.6 billion), compared with expectations for a deficit of about 625.9 billion yen.
Key Economist takeaways:
The slowdown in exports seen in January is just temporary and there’s no change to the view that Japan’s economy is driven by external demand while domestic forces remain weak, according to Yuichi Kodama, chief economist at Meiji Yasuda Life Insurance Co. in Tokyo.
"Exports are still on the recovery track," said Kodama. "The global economy is steadily recovering.”
Bob Baur, the chief global economist at Principal Global Investors, said on Bloomberg TV that he "wouldn’t get too excited about any one-month number."
"Exports were really good in the fourth quarter," said Baur. "Imports are better than people think, and that means somebody is buying, which I think is positive in the longer term for Japan."
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