⁍ Japan’s exports fell in September at the slowest pace in seven months.

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⁍ U.S.-bound vehicle shipments rose from lows brought about by the COVID-19 pandemic.

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– Japan’s exports fell in September at the slowest pace in seven months as US-bound vehicle shipments rose from lows brought about by the COVID-19 pandemic, indicating easing pressure on the world’s third-largest economy. Exports fell 4.9% in September compared with the same month a year earlier, more than the 2.4% economists forecast in a Reuters poll. Still, the pace followed six months of double-digit decline, including a 14.8% drop in August. Fewer exports of iron to Taiwan and ships to Panama left September marking the 22nd consecutive month of export decline, the longest run since the 23-month stretch through July 1987. To help the economy through the health crisis, the government should compile a third extra budget for the current fiscal year, economists told Reuters last week. The two earlier budgets helped fund $2.2 trillion in economic stimulus, such as cash payments to households and small business loans. Indeed, Prime Minister Yoshihide Sugahide plans to order his government to compile another stimulus plan as early as November, to support consumer sentiment at risk from a new wave of COVID-19 infection, local media reported. Still, the slowing decline in exports adds to other signs of gradual economic recovery such as a pickup in factory output. “Production has recovered substantially, but as that’s mostly a rebound after sharp falls, the recovery pace will probably slow,” said chief economist Yuichi Kodama at Meiji Yasuda Research Institute.