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September 27, 2007

Japanese Economy Moving Industrial Output +3.2%

posted by MR WAVETHEORY at 9/27/2007 05:19:00 PM
There is no fallout from subprime or at least that's the message from Japan. Export growth unexpectedly accelerated in August, also encouraging manufacturers to step up output. The Bank of Japan's Tankan survey next week will show whether companies expect overseas demand to remain strong as fallout from the U.S. subprime-loan crisis threatens to curb global economic growth.

Carmakers are strong. Toyota and Honda, Japan's two largest automakers, stepped up output last month to make up for the July cutbacks. Honda's production rose 6.8 percent and Toyota's increased 3.3 percent. Nissan Motor Co. added an extra work day, helping to boost manufacturing 10.1 percent.

The US matters less. Bank of Japan board member Miyako Suda said yesterday that the U.S. housing recession ``will have a limited impact on exports'' and the world economy will keep expanding even if U.S. growth slows.

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