Demand from Asia is boosting Japan's exports, which fell at the slowest pace in 14 months in November, reports Bloomberg.
Citing figures from the Finance Ministry in Tokyo, Bloomberg says that shipments abroad slid 6.2% from a year earlier, the smallest drop since September 2008. Economists interviewed by Bloomberg say the improvement in exports is partly due to a favorable year-on-year comparison.
“Even though exports are strong, domestic demand is weaker than people expected earlier this year as employment has worsened rapidly,” Junko Nishioka, chief economist at RBS Securities Japan Ltd. in Tokyo, told Bloomberg. “That signals the recovery in external demand and the stimulus effects won’t be enough to sustain growth.”