• 658 days Will The ECB Continue To Hike Rates?
  • 659 days Forbes: Aramco Remains Largest Company In The Middle East
  • 660 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,060 days Could Crypto Overtake Traditional Investment?
  • 1,065 days Americans Still Quitting Jobs At Record Pace
  • 1,067 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,070 days Is The Dollar Too Strong?
  • 1,070 days Big Tech Disappoints Investors on Earnings Calls
  • 1,071 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,073 days China Is Quietly Trying To Distance Itself From Russia
  • 1,073 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,077 days Crypto Investors Won Big In 2021
  • 1,077 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,078 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,080 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,081 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,084 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,085 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,085 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,087 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

Japanese GDP and Exports Seriously Underperform Expectations

The huge string of unexpectedly sour economic data continues to pour in. Add Japan to the spotlight. The BBC reports Japan's Quarterly Growth Disappoints Ahead of Sales Tax Hike.

Japan's economy grew less than expected last year, despite forecasts it would benefit from a jump in spending ahead of a sales tax increase in April.

Gross domestic product rose by 1% on an annualized basis in the three-month period to December, compared to market estimates of a 2.8% expansion.

This was due to weaker private consumption and capital spending, as well as lower export figures.

Mr Abe also pushed through a controversial sales tax increase last year, in an attempt to raise funds to reduce the country's large public debt.

However, Japan's GDP is forecast to shrink in the April-to-June period because of the increase in the consumption tax to 8% from 5%.

The global economy is seriously slowing just as Abe pushed through a massive income tax hike. Yet people still sing the praises of Abenomics.

I fully expect Abe to step up to the plate with further measures to sink the yen in still more futile efforts to boost exports.

For other "unexpected" news, please see ...

The unexpected now hits Japan. Is Japan having bad weather too?

 

Back to homepage

Leave a comment

Leave a comment