Forum Views ()
Forum Replies ()
Read more with google mobile :
Japanese economic data lift recovery hopes
Yahoo!
My Yahoo!
Mail
Yahoo! Search
Search:
Sign InNew User? Sign Up
News Home -
Help
Navigation
Primary Navigation
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Secondary Navigation
Singapore
Asia Pacific
World
Search
Search:
Japanese economic data lift recovery hopes
AFP - Monday, August 10
TOKYO (AFP) - - Hopes mounted Monday that Japan's economy is on the mend after its worst recession in decades as the current account surplus showed the first rise in 16 months and machinery orders rebounded.
ADVERTISEMENT
The surplus in the current account, the broadest measure of trade in goods and services, more than doubled in size in June to 1.15 trillion yen (11.8 billion dollars) from 471.6 billion yen a year earlier, the government said.
The figure easily beat market expectations for an increase of about 40 percent.
The trade surplus alone rose more than two-fold to 602.2 billion yen from 249.0 billion a year earlier.
Exports increased 14.6 percent in June from the previous month, narrowing their year-on-year decline to 37 percent, after a fall of 42.2 percent in May, the data showed.
Japan's heavy dependence on foreign demand to drive its economy left it highly vulnerable to the global economic slowdown, which crushed demand for its key exports such as cars, high-tech goods and machinery.
But analysts believe the world's second largest economy returned to positive growth in the April-June quarter as exports and factory output rebounded.
"The economy seems to be recovering steadily," said Toshihiko Matsuno, head of research at SMBC Friend Securities.
But he added: "The prospect of a US economic recovery remains unclear. We need to remain cautious."
There was also good news on core machinery orders, a closely watched indicator of corporate capital spending, which rebounded by a stronger-than-expected 9.7 percent in June from a record low the previous month.
It was the first increase in four months.
Japanese companies have been slashing their investment to try to survive the country's deepest recession in decades, but there are hopes that the worst of the economic slump is over.
Even so, core orders are expected to decline 8.6 percent in the three months to September from the previous quarter, following a drop of 4.9 percent in April-June, according to the manufacturers' own forecasts.
The worst of the slump in business activity is over but the pace of recovery "is likely to be limited," RBS Securities economist Junko Nishioka said.
Many Japanese companies, including Sony and Toyota Motor, recently announced better-than-expected business results for the first quarter of the fiscal year, although the situation remains very difficult.
"Companies still seem to be refraining from reviewing their plans to reduce business investment, but I don't think they are pessimistic," said Yuji Shimanaka, an economist at Mitsubishi UFJ Research and Consulting.
"Overall, the earnings reports for the April-June quarter turned out to be pretty good," he said. "I expect the domestic recovery will continue until the end of fiscal 2010."
Japan entered recession more than a year ago.
The economy shrank at an annualised pace of 14.2 percent in the first quarter of 2009, its worst performance on record, but analysts say Japan is likely to be one of the first major economies to return to positive growth.
Email Story
IM Story
Printable View
Blog This
Sign in to recommend this article »
0 users recommend
Related Articles: China's Economy
Beijing yet to approve Disney's Shanghai park: reportAFP - 1 hour 54 minutes ago
China's Yanzhou nears Felix takeover-sourceReuters - 2 hours 52 minutes ago
FINEWS-Indonesian yields flat ahead of GDP dataReuters - Monday, August 10
China property prices pick up further in July: govtAFP - Monday, August 10
Related Articles: Business
'G.I. Joe' easily wins box office battleReuters - Monday, August 10
IMF upgrades South Korea economy forecastReuters - Monday, August 10
Libya, India's Essar bid for Shell's UK refinery -reportsReuters - Monday, August 10
Rally's fate up to shoppers, FedReuters - Monday, August 10
RPT-Wall St Week Ahead: Rally's fate up to shoppers, FedReuters - Monday, August 10
Enlarge Photo
Japanese economic data lift recovery hopes
Related Photos
Slideshow Full Photo Coverage: Business & Economy
Related Full Coverage
China Economy
china economy
All Full Coverage
Most Popular – Business
Viewed
Scientists decode HIV genome structure: study
Three new bank failures bring to 72 number of collapsed US banks
Taiwan's Jay Chou goes to Hollywood: report
Burglars steal $15m from Saudi princess
Manson murders back in spotlight 40 years on
View Complete List »
Search:
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Privacy Policy
- Terms of Service
- Community
- Intellectual Property Rights Policy
- Help
Other News on Monday, 10 August 2009 Iran judiciary looks to calm prison abuse outrage
Publicis to buy Razorfish from Microsoft for $530m
Publicis to buy Razorfish from Microsoft for $530m
Briton, Australian killed in Iraq shooting
Burglars steal $15m from Saudi princess
51 US soldiers in Iraq diagnosed with swine flu
Israel summons U.S. envoy over settlement dispute
U.N. says violence threatens Afghan poll
| International
|
Majorca hit by bomb, ETA claims attack: reports
Israel summons U.S. envoy over settlement dispute
| International
|
Iran military says opposition chiefs should face trial
Israel warns Hezbollah over assassination report
Bill Clinton to lead investor mission to Haiti
| International
|
Honduras snubs OAS leader, cancels visit
| International
|
Wait for sex and marriage? Evangelicals conflicted
AP INVESTIGATION: SC gov's plane use questioned
UN: Violence hampering Afghan vote
Clinton: No illusions Iran will return to talks
GOP senator warns against pulling a 'Rumsfeld'
Australia crush England to level Ashes
U.S. says evidence Taliban chief dead "pretty conclusive"
Special Olympiacs getting well wishes for Shriver
40 inmates hurt in riot at Calif.'s Chino prison
Snakebites kill 6,000 Bangladeshis each year
Official: Closing Gitmo prison can be done by Jan.
7.1-magnitude quake hits off eastern Japan
Car fleeing Calif. police hits pickup, killing 7
Strong quake jolts Tokyo; trains halted briefly
Bodies of 4 kidnapped Pakistani police found
IMF upgrades South Korea economy forecast
New Zealand house price decline eases in July-survey
'G.I. Joe' commands box office with $56.2M debut
G.I. Joe movie leads worldwide invasion
| Entertainment
|
Rapid change in late-night viewing
"G.I. Joe" movie leads worldwide invasion
'G.I. Joe' commands box office with $56.2M debut
'Cosi' rounds off Guth's Mozart trilogy in Salzburg
Greek Woman Accused Of Setting Fire Briton's Private Parts
Chinese Bride Challenges Record For World's Longest Wedding Gown With 7,093-Foot-Long Dress
Gaza: Israeli planes strike in response to mortars
Britain's MI6 not complicit in torture, says chief
Bombs in Baghdad and northern Iraq kill 41
| International
|
Mark Lester did not father Jackson's children: report
String of bombings kill at least 40 in Iraq
500 children a year abducted from Britain: report
U.S. targets Afghan drug lords tied to Taliban: report
| International
|
Chavez claims Colombian troops entered Venezuela
Bomb blasts hit Majorca, ETA suspected: authorities
Opium takes over entire Afghan families, villages
Iran Guard wants former president, moderates tried
| International
|
50 suspected Afghan drug lords targeted by US: report
China breaks up large underground bank ring
| International
|
Israel summons U.S. envoy over settlement dispute
| International
|
Palestinian Fatah seeks renewal, rejuvenation
Homeless Holocaust survivor leaves $100,000 gift
China's east coast battered by typhoon
| International
|
Venezuela, Colombia tensions high ahead of summit
| International
|
Honduras says OAS visit on again
| International
|
43 people killed in landslides in northern India
NYPD: Bodies of plane pilot, adult passenger remain missing
Tonga ferry disaster: Search temporarily halted
Hyundai boss goes to NKorea to seek worker's release
Immune system cancer found in young 9/11 officers
9 killed, 9 missing as typhoon hits Japan
Hazardous waste sites ready for last cleanup phase
Focus on Xie and Nehwal at badminton Worlds
AP INVESTIGATION: Border police being busted more
9 killed as Typhoon Etau hits western Japan
Ponting eager for date with Ashes destiny
Memorial service held for slain Calif. teen
Report: 5 dead, 10 missing as typhoon hits Japan
About 250 inmates injured in riot at Calif. prison
North Korean leader appears in "full control": US
White House: Afghan war not in crisis
British, Australian security contractors shot dead in Iraq
Cabbie crashes into church with 5 locked inside
'G.I. Joe' commands box office with $56.2M debut
DEALTALK-Debt deals propping up foreign banks in S.Korea
Hyundai chief to visit N.Korea over detained worker
Japanese economic data lift recovery hopes
New Zealand central bank buys NZ$6 mln in June
Japan core machinery orders up 9.7 percent in June
Korea Hot Stocks-Hyundai Marine up, Hanjin Shipping falls
Seoul shares rise but blue chips losing glow
China's sports hope to turn professional
S.Korean bonds fall before auctions, rate vote
ING sells office building in S.Korea for $327 mln
Beatles copyrights in McCartney's (distant) sights
Doubts grow about Islamist's death in Indonesia
Death of Indian 'queen' triggers royal squabble
Lou Reed, The Killers rock Chicago's Lollapalooza
'Twilight' sinks fangs into Teen Choice Awards
G.I. Joe movie leads worldwide invasion
| Entertainment
|
Reality show "Shark Tank" cashes in on recession
Beatles copyrights in McCartney's (distant) sights
| Entertainment
|
"There Goes the Neighborhood" borders on creepy
Tara Reid heads to pub for "Last Call"
Songwriters encouraged to explore new genres
| Entertainment
|
R&B singer Keri Hilson took detour to stardom
Album sales testing new lows in summer doldrums
Lou Reed, The Killers rock Chicago's Lollapalooza
| Entertainment
|
Indians to refine business skills at 'finishing schools'
There Goes the Neighborhood borders on creepy
| Entertainment
|
Reality show Shark Tank cashes in on recession
| Entertainment
|
R&B singer Keri Hilson took detour to stardom
| Entertainment
|
Tara Reid heads to pub for Last Call
| Entertainment
|
British insurer enters takeover talks
Media: Iran purges Intelligence Ministry officials
Iraq bombs kill 40, fears of sectarian strife grow
| International
|
DNA tests to identify British, Aussie WWI troops
Taliban attack near Kabul kills police, civilians
| International
|
Clinton to push Congo, U.N. on atrocities on women
| International
|
Afghan govt compound 'under rocket attack'
Iran will strongly resist West vote interference: official
| International
|
Iraq bomb attacks kill 47
South America split over U.S. bases plan in Colombia
| International
|
Mallorca moves to limit bomb damage to tourism
| International
|
Israel bombs Gaza tunnel in retaliatory strike
Don't brush with baldness: put down that comb
Military, militants battle in tribal Pakistan
Drugs deaths, swine flu dominate North America summit
Israel bombs Gaza tunnel in retaliatory strike
| International
|
Pakistan pledges to curb militancy, pounds insurgents
Hordes of schoolkids put Stasi memorial in the red
| International
|
Iraq bombs kill 40 as fears grow
Somali Islamists pull teeth from sinners: residents
| International
|
Bombs in Baghdad and northern Iraq kill 41
Saudi Arabia arrested thousands without trial: HRW
| International
|
US commander says Taliban gaining upper hand: report
1 dead as 6 Taliban attack town south of Kabul
Former Khmer Rouge guard describes dumping corpses
First U.S. wireless pacemaker gives patient freedom
| Technology
|
Ga. terrorism defendant to call on family at trial
Australia pledges $8 mln for native languages
Israeli foreign minister suggests consul resign
Twenty-eight dead as typhoons hit East Asia
Verdicts in Myanmar's Suu Kyi trial may be delayed
Public spied on 1,500 times a day in UK, study finds
| Technology
|
Clinton, Angola sign agreement to combat HIV/AIDS
New Zealand sets greenhouse gas emissions target
The Nation's Weather
China cracks billion-dollar money laundering gang
Veterinarians using stem cells to treat animals
Bomb blast kills 6 Taliban while planting IED
US troops killed in Iraq and Kuwait
13 dead as typhoon brings floods, landslides to Japan
Philippines frees 2 rebels to revive peace talks
US troops killed in Afghanistan and Africa
1st trial to start in Texas `fight club' case
Clinton shifts focus to human rights in Africa
Chinese group to sell stake in Lenovo parent
China property sales soar, triggering bubble fears
China shares fall amid fears of credit reduction
Bln-dlr money-laundering ring smashed in China: report
S.Korea fin min says no need for more property measures-report
Pakistan inflation falls to 19-month low
Indian car sales jump in July
'Great Depression 2.0' avoided: Krugman
Seoul shares end flat but foreign buying continues =2
Closing arguments set in C-Murder's La. trial
Lady Gaga shows off tattoo during Asia tour
Singapore farmers see green shoots in new food policy
US-ENTERTAINMENT Summary
Songwriters encouraged to explore new genres
Indian FM slams 'dubious' Australian colleges
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights