The deficit stood at 399.1 billion yen ($3.9 billion), against the median estimate of a 324.3 billion yen deficit in a Reuters poll of economists. celebs Read More What http://sungtcnp.deviantart.com happened to Japan's yen-driven export boom? In May, the current account balance stood at a surplus of 522.8 billion yen.
Japan Q1 GDP revised up
Ben Williams, investment director at GAM, highlights that capital expenditures was one of the big drivers for the Japanese GDP upgrade.
"The yen has been weak for the past 18 months, that's very good. It's now fairly stable and the current level is quite nice for exporters. But we also saw a slowdown in many Japan's markets, for instance shipbuilding LNG tankers which has come down. So I think it takes time and we'll see better export figures coming through the September and December quarters," said Edwin Merner, president at Atlantis Investment Research. "People were overly optimistic [but] this takes time ...
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