Japan's Export Decline Raises Economic Concerns

Japan's exports have fallen for the first time in nearly 2.5 years, with a 0.3% decrease in July compared to the previous year, due to weakened demand for light oil and chip-making equipment. This raises concerns about a global recession as key markets like China experience a slowdown. While a key gauge of capital expenditure rose in June, manufacturers anticipate a decline in core orders in the current quarter due to weak offshore demand. The data highlights the fragility of Japan's export engine, which has been relied upon to support the country's economy.