TOKYO (REUTERS) – Japan’s exports grew the most since 2010 in April while capital spending perked up on surging global demand for cars and electronics, lifting hopes that an improvement in trade could help lead the world’s third-largest economy back to growth.
Also brightening the outlook, confidence among the nation’s manufacturers hit a more than two-year high in May on the back of solid overseas orders, a Reuters survey showed on Thursday (May 20).
While the stronger exports and imports are partly helped by the favourable statistical base effects from the major plunge in trade seen a year earlier, real demand is also on the mend.
Global appetite for cars and electronics has picked up since last year, driven by a recovery in the United States and Chinese economies – Japan’s key markets – although global chip shortages put a drag on overseas shipments in recent months.
Exports rose 38 per cent in April from a year earlier, official data showed on…