Japan export growth cools as supply chain stalls

Japan's exports extended a winning run in August.

Numbers out Thursday (September 15) showed shipments rose just over 26% on the year.

That was the sixth straight month of double-digit gains.

Strong demand for chip-making equipment offset slower shipments of cars to the U.S. and Europe.

Even so, the hot streak wasn't actually quite as hot as before.

The previous month saw exports rise 37%.

August's numbers were hit by resurgent health worries around Asia.

Countries including Vietnam and Malaysia were forced to introduce new lockdowns.

And that crimped output along the supply chain for Japanese firms.

It was one factor behind last week's cut in production targets by Toyota.

The global shortage of computer chips also continues to weigh.

One economist told Reuters that that problem was likely to last until at least year's end.

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