Japan to see exports rebound in October - Reuters poll

According to the results of a Reuters poll of economists, Japan is set to see a healthy rebound in October's exports figures, with expectations for core CPI to stabilize.

Key quotes

"Exports were forecast to rise 9.0 percent in October from a year earlier, the fastest pace of gain since January, the poll of 16 economists showed. In September, they declined a revised 1.3 percent.

Imports likely jumped 14.5 percent in October from a year earlier, giving a trade deficit of 70 billion yen ($617.5 million).

“The pace of expansion in global trade is slowing down and Japan’s exports growth has been sluggish. On the one hand, we believe negative impacts from natural disasters waned,” said Takeshi Minami, chief economist at Norinchukin Research Institute.

The poll also found the nationwide core consumer price index (CPI), which excludes fresh food prices but includes fuel costs, rose 1.0 percent in October from a year earlier, steady from September.

Japan’s economy shrank more than expected in the third quarter, hit by natural disasters and a decline in exports, a worrying sign that trade protectionism is starting to take its toll on overseas demand."