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Building approvals fell 3.7% in January, while the trade surplus grew in January as a fall in imports outpaced dropping exports.
But such stinginess has led to a 19.8% fall in imports since last year.
The turnaround is mainly due to a fall in imports as the economy has slowed.
How many ways has the fall in imports to America hurt Japan?
More interestingly was the trade figures which showed a 10% fall in imports.
A $2.4 billion fall in imports of petrol and other industrial goods accounted for most of the improvement.
Similar(37)
But a fall in exports alone is unlikely to trigger a balance-of-payments crisis, since it will be accompanied by a big fall in imported inputs.
Strange to say, however, while natural gas prices have dropped, rising oil production and a sharp fall in import dependence haven't stopped gasoline prices from rising toward $4 a gallon.
–The fall in import share, by contrast, has been going on steadily since 1996, when 56% of imports came from the 27 countries that are now E.U. members.
Here in Houston, total tonnage is down 13% so far this year in line with the national average including a 25% drop in grain and food aid, 46% fall in import autos, 84% drop in bagged goods (mainly food aid), 8% drop in import steel, and 7% decline in containers.
A fall in textile imports may temporarily curb the Department of Commerce's enthusiasm for quotas on a huge range of Chinese textiles.
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