TOKYO: Japan's exports grew unexpectedly in May on robust car sales, though the rate of expansion slowed to a crawl as inflation and rising interest rates bit into global demand, highlighting a patchy recovery in the world's third-largest economy. While the country's hotels, restaurants and other serv
TOKYO: Japan's exports grew unexpectedly in May on robust car sales, though the rate of expansion slowed to a crawl as inflation and rising interest rates bit into global demand, highlighting a patchy recovery in the world's third-largest economy.
Ministry of Finance data showed on Thursday that exports rose 0.6 per cent year-on-year in May, for the 27th straight month of rises, led by double-digit growth in car shipments. Imports fell 9.9 per cent in the year to April, down for the second straight month, versus the median estimate for a 10.3 per cent decrease.
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