Thursday, 27th August 2009
In Business In Japan,
Japanese exports see more falls
Japanese exports have fallen for the tenth month in a row, new figures have revealed, despite the country recently emerging from its year-long recession.
According to statistics published this week, exports from Japan fell by 36.5 per cent in July this year when compared with the same month in 2008.
This is a bigger drop than witnessed in the previous month, when exports fell by 35.7 per cent.
These latest findings have led analysts to point out that the positive effects of global stimulus measures designed to help fledging economies are beginning to wear off.
Seiji Shiraishi, chief economist at HSBC Securities, said: "Falls in exports have been moderating in recent months on companies' restocking efforts and government stimulus worldwide, but the July data indicate that the recovery momentum is losing steam."
Meanwhile, Japanese electronics manufacturer Fujitsu recently announced a wave of job cuts to try and cope with the ongoing effects of the global financial turmoil.
Written by Kimberley Homer.