Japan s trade deficit shows surprise increase

MarketWatch.com - MarketPulse LOS ANGELES (MarketWatch) -- Japan s trade deficit unexpectedly widened in December, with exports growing less than forecast. Exports rose 15.3% from a year earlier, missing a Wall Street Journal forecast for a 17.7% increase, while imports grew by 24.7% from December 2012. The resulting trade deficit was 1.302 trillion yen ($12.8 billion), widening from ¥1.293 trillion and above a projected ¥1.256 trillion trade gap predicted in the Wall Street Journal survey. The deficit was the 18th in a row for Japan. Shipments most of Japan s top trading partners all rose when compared with the year-earlier period, including a 34% rise for China, a 13% increase for U.S.-bound exports, and 23% growth for those to the European Union. The yen strengthened slightly, with the dollar easing to ¥102.08 from ¥102.14.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.