Japan’s September exports fell by more than the median forecast, 10.3%, and the Bank of Japan governor today said the economy was “leveling off”.
It is just the latest sign of a slackening of activity in Asia. The BOJ also revised down forecasts for eight out of nine regional economies, and Taiwan’s unemployment hit a one-year high.
The BOJ says it is to proceed with what it called “seamless” monetary easing.
The export dive is the worst since May last year, and the post-tsunami disruption of production and distribution of goods throughout Japan.