Arab Today, arab today japan factory output shrinks again in august on china slowdown
Last Updated : GMT 01:55:29
Arab Today, arab today
Arab Today, arab today

Japan factory output shrinks again in August on China slowdown

Arab Today, arab today

Arab Today, arab today Japan factory output shrinks again in August on China slowdown

Japan's economy contracted in the second quarter
Tokyo - AFP

Japanese factory production fell unexpectedly for a second month in August, data showed Wednesday as a slowdown in China and weak domestic spending hit Prime Minister Shinzo Abe's efforts to kickstart the world's number three economy.

The 0.5 percent contraction in industrial production followed a negative figure in July and missed market expectations for growth in output last month.

The disappointing data supplied the latest evidence that Abe's growth blitz, dubbed Abenomics, was faltering, after figures last week showed consumer prices fell for the first time in more than two years.

Abe's drive had appeared to offer the promise of a turnaround, but a slew of recent data suggests it is faltering.

Standard & Poor's cut its sovereign credit rating on Japan this month, saying the government has little chance of reinvigorating the moribund economy in the short term, with social welfare costs spiralling.

The factory output data revived speculation that the Bank of Japan will be forced to unleash more stimulus to counter the downturn.

Japan's economy contracted in the second quarter owing to a slowdown in key trading partner China, weak consumer spending at home and soft exports.

Scores of Japanese firms depend heavily on China, from automaker Nissan to factory robotics maker Fanuc.

"Today's data confirm that the economic recovery has ground to a halt," Marcel Thieliant from Capital Economics said in a commentary.

"We stick to our view that the Bank of Japan will step up the pace of its asset purchases next month."

The central bank's 80 trillion yen ($665 billion) annual asset-buying scheme -- similar to the Federal Reserve's quantitative easing -- was a key pillar of Abe policy, although he is struggling to make good on pledges to cut red tape and open up the economy.

A sales tax rise last year hammered consumer spending, denting demand for products made by Japanese firms which also faced slowing growth overseas.

"Production will probably stay subdued with weak exports amid concerns about overseas economies," Toru Suehiro, an economist at Mizuho Securities, told Bloomberg News.

"The downside risks to Japan's economy are increasing this quarter as both external and domestic demand look sluggish."

Abe last week pledged to refocus on his "Abenomics" growth project, saying the country's economy has entered "the second stage".

The programme helped sharply weaken the yen, sparking a stock market rally and lifting exporters' profits, but the impact on the wider economy has fallen short of expectations.

Focus would now to the BoJ's quarterly Tankan business confidence report on Thursday.

In July, the Tankan showed confidence among major Japanese manufacturers rose to the highest level in more than a year, but investors will be keen to see if firms have become more cautious as the economy struggles.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan factory output shrinks again in august on china slowdown Arab Today, arab today japan factory output shrinks again in august on china slowdown

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan factory output shrinks again in august on china slowdown Arab Today, arab today japan factory output shrinks again in august on china slowdown

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday