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Economy in Brief
Japan's Inflation Shows Mixed Gains
Japan's inflation rose by 0.4% in July...
U.S. Existing Home Sales Continue to Fall in July
Existing home sales declined 5.9% (-20.2% y/y) in July to 4.810 million units...
U.S. Index of Leading Indicators Fell Again in July
The Conference Board's Composite Leading Economic Indicators Index fell 0.4% m/m...
U.S. Philly Fed General Activity Index Back to Positive Reading in August
The current general activity diffusion index rose nearly 19 points in August to 6.2...
U.S. Unemployment Claims Slightly Lower
Initial claims for unemployment insurance went down 2,000 in the week ended August 13 to 250,000...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by By Robert Brusca September 12, 2007
Japan's current account surplus shrinks in July.
The terms of trade have turned against Japan over the past year as export prices rose by just 10.2% and import prices rose by 26.3%. Exports and imports have been in a broader slowing but in the recent three months they accelerated from Q1 weakness. Japans exports and imports are showing signs of catching on and reaccelerating after this slowdown. Japans surplus is reviving, albeit erratically.
Jul-07 | Jun-07 | May-07 | 3-Mo | 6-Mo | 12-Mo | 12 mo Prev | |
Current Account in $, Mln | $ 14,446 | $ 16,682 | $ 18,435 | $ 16,521 | $ 16,879 | $ 15,948 | $ 13,919 |
IN Yen, 100 Mln | |||||||
Overall Balance | 17,539 | 20,467 | 22,264 | 20,090 | 20,269 | 18,982 | 16,052 |
Balance on Goods | 8,434 | 8,923 | 9,634 | 8,997 | 9,485 | 9,266 | 7,556 |
Export Goods % SAAR | 0.1% | 1.0% | 4.6% | 25.1% | 4.6% | 11.1% | 29.8% |
Import Goods %, SAAR | 0.9% | 2.4% | 8.4% | 67.7% | 17.1% | 11.8% | 33.7% |
Services Balance | (2,371) | (1,898) | (2,060) | (2,110) | (2,085) | (1,966) | (1,795) |
Prices In %, SAAR | |||||||
Export Prices | -1.3% | 0.6% | 3.1% | 15.8% | 1.7% | 5.2% | 10.2% |
Import Prices | -1.0% | 1.3% | 4.6% | 34.1% | 5.1% | 8.9% | 26.3% |
Memo: Yen/$ | 121.41 | 122.69 | 120.77 | 121.62 | 120.26 | 119.03 | 115.29 |