Japan's core prices to see first rise in 18 months, export growth to slow: Reuters poll




  • In Business
  • 2021-10-15 04:28:36Z
  • By Reuters
 

TOKYO (Reuters) - Japan's exports likely grew at the slowest pace in seven months in September while core consumer prices turned positive for the first time since early last year, a Reuters poll showed, in a sign of the evolving economic impact of the COVID-19 health crisis.

The mixed batch of data will likely highlight pressures Japan's export-reliant economy faces from a surge in global raw material prices as well as coronavirus-linked output and supply chain disruptions, which are clouding the overseas demand outlook.

Exports likely maintained double-digit growth, jumping 11.0% in September from a year earlier, according to analysts polled by Reuters, but that would mark the slowest pace of year-on-year growth since February.

"Export growth is slowing down due to cuts in automobile production stemming from supply constraints," economists at Shinkin Central Bank Research Institute said.

Imports likely surged 34.4% in September from a year earlier, largely thanks to rising energy and raw material costs, the poll showed.

Mainly reflecting higher energy and fuel costs, Japan's core consumer prices likely rose 0.1% year-on-year in September, their first rise since the country was in the early stages of the coronavirus pandemic in March 2020, according to the poll.

"As for the outlook, prices compared to the previous year are likely to keep increasing due to the rise in energy prices and taxes on tobacco, though cellphone fee cuts are likely to have a major impact," said Junpei Fujita, an economist at Mitsubishi UFJ Research and Consulting.

The government will release the trade data at 8:50 a.m. on Oct. 20 (2350GMT, Oct. 19). The consumer price data is due out 8:30 a.m. on Oct. 22 (2330GMT, Oct. 21).

(Reporting by Daniel Leussink; Editing by Kim Coghill)

COMMENTS

More Related News

As global costs soar, Japan
As global costs soar, Japan's 'shrinkflation' gets harder to swallow

It was a chocolate biscuit that turned Masayuki Iwasa, a self-professed penny-pincher with a sweet tooth, into one of Japan's most scrupulous chroniclers of ...

Japan
Japan's service sector activity expands at fastest pace in 2 years

Japan's services sector activity grew at the fastest pace in more than two years in November on a jump in new business, signalling stronger consumer...

More Companies Will List in Japan This Month Than Ever Before
More Companies Will List in Japan This Month Than Ever Before

(Bloomberg) -- While Japan's stock market might have had an unassuming year overall, one sector is running red-hot: new listings. Most Read from...

US, South Korea defense chiefs discuss boosting alliance
US, South Korea defense chiefs discuss boosting alliance
  • US
  • 2021-12-02 01:38:47Z

The South Korean and U.S. defense chiefs met Thursday for their annual talks, as Washington pushes to reinforce alliances with its partners to curb mounting ...

Omicron unravels travel industry
Omicron unravels travel industry's plans for a comeback
  • US
  • 2021-12-01 11:51:30Z

Tourism businesses that were just finding their footing after nearly two years of devastation wrought by the COVID-19 pandemic are being rattled again as...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business