Japan's exports fell for a sixth straight month in May as China-bound shipm...
TOKYO - Japan’s exports fell for a sixth straight month in May as China-bound shipments of semiconductor manufacturing equipment and car parts weakened, in a sign of a deteriorating outlook for growth as the trade-reliant economy faces persistent pressure from slowing external demand.
The fall in shipments compared with a 7.7% annual decrease expected by economists in a Reuters poll, and followed a 2.4% year-on-year fall in April. Earlier this month, Group of 20 finance leaders warned that intensifying trade and geopolitical tensions raised risks to global growth, but they stopped short of calling for a resolution of the deepening U.S.-China trade conflict.
Weak economic growth could prompt Prime Minister Shinzo Abe to postpone a planned sales tax hike to 10% for the third time. The previous sales tax hike to 8%, from 5%, in 2014 hit consumption and was blamed for a slump in the Japanese economy.
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