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Japan February export surge is caught speeding down
In February, Japan's exports tacked on at a slower tempo than in January because of the timing of the Lunar New Year holiday, although their upward trend’s supposed to stay unchanged with steady external demand, as a Reuters survey disclosed on Friday.
Exports were supposed to have ascended 1.9% in February from 2017 after an updated 12.3% profit in January, as the survey of 19 market expert uncovered.
Imports rallied 17.1% from 2017, while trade deficit kept to 99.6 billion yen.
As some market experts hope, they expect exports will remain on the ascending trend if they have them averaged out. Additionally, China's demand will keep backing semiconductor-related products' shipments. However, ascending protectionism by the US current administration, especially the latest decision to impose duties on aluminum and steel definitely appears to be a worrying factor.
Along with the European Union, Japan has urged America to provide them with exemptions from metal import duties, with Japan calling for a calm approach in a dispute, which threatens to spiral into a trade conflict.
Next week's data will come with Japan's consumer inflation data, supposed to uncover core consumer prices soaring in February partly led by revenues in gasoline prices, as the survey disclosed.
Including crude products but excluding volatile fresh food prices, the core CPI index rallied 1% in February from 2017 reacting to a 0.95 surge in January.
Financial experts expect core CPI to keep to 1%. They also hope it’s going to temporarily lose the momentum around the middle of 2018 partly because of the yen's recent appreciation, putting pressur on import prices.
Additionally, the internal affairs ministry is expected to reveal the nationwide consumer prices data a bit later today.
As for Tokyo area's core consumer prices, they will be uncovered on March 30.
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