P.M. BRIEFING : Japan Trade Surplus Shrinks 16.5%
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TOKYO — Japan’s trade surplus shrank 16.5% in July to $5.99 billion, the government said today, pressured by brisk Japanese domestic demand, lagging U.S. economic growth and a stronger dollar.
While the July figures were somewhat exaggerated by a firm dollar, economists said the underlying trend is for smaller surpluses anyway because of a slowing U.S. economy and continuing robust Japanese domestic consumption.
The July trade surplus declined from $7.18 billion a year earlier, Finance Ministry figures show.
Japan’s surplus with the United States in July contracted to $3.83 billion from $4.49 billion a year ago.
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