Japan trade data dims growth prospects as China leads decline in Asia exports

News Snapshot:

Japan posted its first monthly decline in exports in more than 2 years, as weaker demand in its biggest trading partners in China and the rest of Asia dimmed prospects for growth in the world's third-largest economy. Exports fell 0.3% in July from a year earlier for the first time since February 2021, according to provisional data released Thursday by Japan's Ministry of Finance. Exports to Asia plunged almost 37%, while those to China contracted 13.4% in an eighth consecutive monthly decline, underscoring the magnitude of the slowdown in the mainland. "Luckily at this moment, [the weakness in China exports]...