Japan May trade deficit shrinks as energy imports

TOKYO: Japan’s trade deficit narrowed in May as imports turned down for the first time in a year and a half, data showed Wednesday, but weaker shipments abroad helped keep the trade balance in the red.

The figures—which suggested the world’s number three economy was slowing—reflected a fall-off in spending after sales taxes rose in April, a move seen as crucial to paying down a huge national debt but one that threatened to stall the nation’s budding economic recovery.