Japan's trade deficit narrows

Japan’s trade deficit narrowed more than expected in December, a sign that the impact of a weak yen and higher energy costs is softening. The trade deficit fell below two trillion yen for the first time in five months to 1.45 trillion yen ($11.3 billion), the finance ministry reported on Thursday. Imports rose 20.6 percent from a year earlier, slowing the pace of growth more than economists had forecast, while exports rose 11.5 percent. Imports of crude oil and liquefied natural gas contributed less in December from an annual increase in November. Exports to Europe rose, while shipments to China fell for the first time in seven months, following a decline in car shipments.