Japan’s exports extend gains, machinery orders fall amid fragile recovery

Good sign: Cars to be exported at the Yokohama port. Japanese exports grew 37% year-on-year in July, slower than a 39% increase expected by economists. — AP

TOKYO: Japan’s exports marked a fifth straight month of double-digit growth in July, driven by US-bound shipments of cars in a positive sign for a trade-led economy, although a key gauge of capital spending fell for the first time in four months.

The mixed batch of indicators underscored fragility in the world’s third-largest economy, which grew 1.3% in the April-June quarter due to solid exports and a surprise gain in private consumption.