Economy

xchrom

(108,903 posts)

12. Japan's Economy Is In Deeper Trouble Than We Thought

Mon Dec 8, 2014, 08:35 AM

Dec 2014

http://www.businessinsider.com/japan-q3-gdp-revised-down-2014-12

TOKYO (Reuters) - Japan's economic contraction in July-September was deeper than initially expected on declines in capital expenditure, according to revised data on Monday that backs Prime Minister Shinzo Abe's recent decision to delay a second sales tax hike.

The data indicated that the hit from April's sales tax hike turned out to be bigger than expected.

Abe, who has called a snap poll for Sunday, hopes voters will agree that his stimulus policies and a decision to delay a second sales tax hike next year will revive a sputtering economy.

The revision to an annualized 1.9 percent contraction, more than a preliminary 1.6 percent fall, confirmed the world's third-largest economy had slipped into recession with only a modest rebound expected in the current quarter. It compared with a median forecast for a 0.5 percent contraction.

Read more: http://www.businessinsider.com/japan-q3-gdp-revised-down-2014-12#ixzz3LJEVGP00

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