Japan’s exports grow for a third month as trade deficit sinks to $2.5 billion

Japan’s exports rose 7.8% in February, as shipments continued to expand in cars and electrical machinery, according to government data released Thursday. The nation’s trade deficit sank to 379 billion yen ($2.5 billion), marking the second straight month of a deficit. The strength in exports come as good news, coming a day after the Bank of Japan raised its key interest rate for the first time in 17 years, no longer setting it at below zero.