Mexican Media Brands
Japan Avoids Another Recession
Japan says its economy expanded in July-September by an annualized 1%, reversing last month’s estimate that the country’s gross domestic product shrank by 0.8%.
The increase compares with a revised 0.5% shrinkage in the previous quarter.
#economics
Share
Japan says its economy expanded in July-September by an annualized 1%, reversing last month’s estimate that the country’s gross domestic product shrank by 0.8%.
The increase compares with a revised 0.5% shrinkage in the previous quarter. The uptick averted a technical recession, defined as two consecutive quarters of contracting GDP. Japan’s economy has weathered four such recessions since the great global recession six years ago.
The turnaround is being attributed to revised figures on business investment, which indicate 2.3% growth. The government initially estimated that investment shrank 5%.
Still, economists say Japan’s economic health remains fragile. Prime Minister Shinzo Abe is expected within two weeks to announce new stimulus measures for the remainder of the fiscal year that ends March 31.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.