Mexican Media Brands
Japan Emerges from Recession
Japan's gross domestic product grew by an annualized 2.2% in October-December and 0.6% from the third to fourth quarter, according to government data.
#economics
Share
Japan's gross domestic product grew by an annualized 2.2% in October-December and 0.6% from the third to fourth quarter, according to government data.
The expansion ended a recession that began in April, when the country's consumption tax was increased to 8% from 5%. Prime Minister Shinzo Abe has delayed a second increase to 10% that was scheduled to begin in October.
Preliminary data show that household spending, which accounts for 60% of Japan's economy, advanced only 0.3% in the fourth quarter less than half what economists were expecting. Such spending rose 0.2% in the second quarter of 2014.
Analysts were especially disappointed in capital spending and workers' pay, each of which advanced only 0.1%. Results indicate Japan's corporate sector is hoarding rather than spending its cash.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
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.
-
Achieving Efficiency?
A look at on-road fuel economy changes over 92 years.