Chinese demand for Japanese exports soared 48% in February, which is enormous growth as it stands, yet perhaps less surprising by now given all the high growth numbers we’ve seen from the nation.
What’s far more notable is that American demand growth for Japanese exports has become massive as well:
Shipments to Asia advanced 55.7 per cent in February from a year earlier, compared with a 68.1 per cent gain the previous month. Exports to China, Japan’s biggest overseas market, climbed 47.7 per cent after rising 79.9 per cent in January.
Demand in the U.S. also picked up from a year ago. Shipments to the world’s biggest economy surged 50.4 per cent in February, the most since May 1984, the ministry said. Sales to Europe rose 19.7 per cent, the third consecutive increase.
While Chinese new year may have dampened Chinese demand during the month, the fact that American demand growth can come anywhere near that of China right now shows that something could be stirring. European demand is growing at a far slower level.