Japan trade balance data for May, exports slide but not quite as badly as expected

Japan Trade balance for May, deficit of 967.1bn yen

• expected Y -1200bn, prior Y 56.8bn

Adjusted trade balance, deficit of 609.1bn yen

• expected Y -754.5bn, prior Y -110.9bn

Exports -7.8% y/y

• expected -8.2%, prior -2.4%

Imports -1.5% y/y

• expected +1.0%, prior +6.5%

Japan May exports to US +3.3% year/year

• to China -9.7% year/year
• to Asia -12.1% year/year

Exports down but not quite as badly as expected. This is pretty much what passes for good news on Japan's trade-war impacted economy I guess. :-(