Mexican Media Brands
Japan Falls into Recession Again
Japan's gross domestic product, which shrank by a revised 7.3% in April-June, contracted 1.6% in July-September, according to preliminary data from the Cabinet Office.
#economics
Share
Japan's gross domestic product, which shrank by a revised 7.3% in April-June, contracted 1.6% in July-September, according to preliminary data from the Cabinet Office. Economists had expected the country's economy to expand 2%.
Analysts predict Prime Minister Shinzo Abe will dissolve Japan's Parliament this week and call for new elections. He is expected to push for a delay in a scheduled hike in the country's general sales tax to 10% in 2015.
The increase would follow a boost from 5% to 8% that took effect in April. Both adjustments were mandated by the previous government to help reduce Japan's national debt.
RELATED CONTENT
-
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.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
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.