— See Separate Tables For Details Of Individual Forecasts

TOKYO (MNI) – The following are the median forecasts for Japanese
economic data due in the coming week provided by economists surveyed by

The July trade balance will show a deficit for the first time in
two months on slower global demand as well as continued high imports of
oil and gas, which have been used to make up for the sharply reduced
nuclear power generation.

July exports are forecast to have fallen 3.0% on year, posting the
second consecutive drop after -2.3% in June and +10.0% in May, on lower
shipments of computer parts, ships and non-ferrous metal products.

July imports are expected to show a 3.2% gain, the first rise in
two months after -2.2% in June and +9.3% in May, led by liquefied
natural gas, mobile phones and aircraft.

For the current fiscal year, economists expect Japan to post a
trade deficit worth Y3.43 trillion following the Y4.42 trillion deficit
in fiscal 2011, according to the latest monthly survey by the Japan
Center for Economic Research.

Wednesday, Aug. 22, 0850 JST (2350 GMT Tuesday): The Ministry of
Finance releases July trade data.

Forecast: A deficit worth Y300.0 billion, posting the first deficit
in two months, after a surplus of Y60.3 billion in June and a deficit of
Y910.4 billion in May; exports -3.0% y/y vs. -2.3% in June; imports
+3.2% y/y vs. -2.2% in June.

** MNI Tokyo Newsroom: 81-3-5403-4838 **

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