Japan’s trade deficit grows while both imports, exports fall short of forecasts

AP Business Writer

TOKYO (AP) — Japan has posted a trade deficit for a second straight month, as both exports and imports were lower than expected. The Finance Ministry said Japan’s trade deficit totaled 695 billion yen, or $4.9 billion, in August down 26% from a year earlier. It said sluggish consumer spending weighed on imports. The U.S. dollar was trading at about 144 Japanese yen in August, although it’s fallen recently to 141 yen-levels. Shipments to Asia grew, while exports to the U.S. declined.