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Japan’s GDP Growth Stalls Again
Japan’s economy expanded by only 0.2% in the second quarter of 2016, as the government begins a new, 28 trillion-yen ($276 billion) stimulation program.
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Japan’s economy expanded by only 0.2% in the second quarter of 2016, as the government begins a new, 28 trillion-yen ($276 billion) stimulation program. The country’s gross domestic product grew by an annualized 2% in the first quarter.
The massive stimulus effort includes expanding the money supply, in part through €15,000 ($150) payments to 22 million low-income citizens. The government also will increase its spending, which economists credit for staving off contraction in April-June, and implement economic reforms.
Japan’s central bank already is running negative interest rates and a record-high asset-purchase program to encourage growth in the gross domestic product. But analysts predict a tough future for the country’s economy as growth is dampened by weak exports, stalled household spending and continued shrinkage in business investment.
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