TOKYO, Nov 15 (investing.com) –
The Japanese economy unexpectedly shrank in the third quarter, preliminary data showed on Tuesday, as worsening inflation levels and further depreciation in the yen severely undercut economic growth in the country.
The Japanese economy unexpectedly shrank in the third quarter, preliminary data showed on Tuesday, as worsening inflation levels and further depreciation in the yen severely undercut economic growth in the country.
Gross domestic product (GDP) fell 0.3% in the three months to September 30, data from the Cabinet Office showed, ducking expectations for growth of 0.3% and falling well below the previous quarter’s reading of 1.1%.
On an annualized basis, Japanese GDP shrank 1.2%, missing expectations for growth of 1.1% and shrinking substantially from a 4.6% reading in the prior quarter.
The reading reflects the increasing pressure on the Japanese economy from rising inflation, with the core consumer price index hitting an eight-year high in September. This, coupled with a deep depreciation in the yen, has kept consumer spending- a major driver of the Japanese economy- largely subdued this year.
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Nov 15 (ANNnewsCH) – 内閣府が15日午前、7月から9月のGDP＝国内総生産の成長率を発表しました。年率換算で実質マイナス1.2％と4期ぶりのマイナス成長となりました。 …continue reading
Japan Q3 GDP shrinks as high inflation, weakening yen bite
investing.com – Nov 15
The Japanese economy unexpectedly shrank in the third quarter, preliminary data showed on Tuesday, as worsening inflation levels and further depreciation in the yen severely undercut economic growth in the country.
Toyota joins other Japan companies to make next-generation chips
Nikkei – Nov 11
Toyota Motor and around nine other Japanese companies will team up with the government to launch a new entity to develop and make next-generation semiconductors, Nikkei has learned, aiming to establish manufacturing processes by the late 2020s.
Ferrari, Lamborghini and other supercar sales boom in Japan
theedgemarkets.com – Nov 09
Ferraris, Lamborghinis and other supercars are seeing an unprecedented sales boom in Japan, fueled by pent-up, post-Covid-lockdown demand from wealthy buyers, who also see the vehicles as good investments amid a weakening yen and soaring used-car prices.
Japan’s govt sounds alarm over America’s EV tax credits
freemalaysiatoday.com – Nov 07
Japan’s government warned on Saturday that new electric vehicle tax credits in the United States could ultimately deter further investment by the Japanese there and hit employment in the world’s biggest economy.
Tourists return to Japan, but where are the workers?
Nikkei – Nov 06
Japanese airports and hotels are scrambling to handle the influx of tourists streaming across reopened borders, as staffs that withered to skeletal levels during the pandemic have not rebounded to match the rise in customers.
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