Japan mired in slump as exports, imports tumble

TOKYO (AP): Japan's exports tumbled 36 percent in August - with car shipments falling by half - and imports also contracted sharply, the government said Thursday, showing the world's No. 2 economy remains mired in a deep slump.

Declines in automobile and steel exports were particularly pronounced, the Ministry of Finance said. Exports fell for the 11th straight month to 4.5 trillion yen ($49 billion).