Japan's Surplus Narrows as Exports Fall

TOKYO -- Japan's trade surplus tumbled last month as exports fell for the first time in nearly five years, a sign of declining consumer demand in many countries.

The grim export performance bodes ill for the world's second-largest economy since exports have been a key driver of Japan's economic growth over the past few years.

Even without the weaker export figures, many economists had grown pessimistic in recent weeks because of sluggish domestic consumer demand and deteriorating sentiment among corporations amid soaring energy and commodity ...