Arab Today, arab today japans economy shrinks 17 in apriljune
Last Updated : GMT 06:32:31
Arab Today, arab today
Arab Today, arab today

Japan's economy shrinks 1.7% in April-June

Arab Today, arab today

Arab Today, arab today Japan's economy shrinks 1.7% in April-June

Employees of Toyota Motor's subsidiary Toyota Motor Kyushu
Tokyo - AFP

Japan's economy shrank by 1.7 percent in the three months to June, underscoring the impact of a sales tax hike as consumption and housing investment dropped sharply, government data showed Wednesday.
The contraction -- which translated into a 6.8 percent decline on an annualised basis -- was slightly better than expectations for a 1.9 percent drop.
The world's number-three economy had been on the upswing as Prime Minister Shinzo Abe's growth blitz, dubbed Abenomics, helped sharply weaken the yen, giving a lift to exporters' profitability and driving a stock market rally last year.
But economists warned that the strong growth would take a hit as Tokyo hiked the country's consumption tax to 8.0 percent from 5.0 percent -- the first levy hike in 17 years, which was seen as crucial to taming Japan's huge national debt.
"After the consumption tax hike, private spending, housing-related investment and corporate capital spending rapidly fell, leading to the bigger-than-expected fall," Credit Suisse said in a note before the figures were published.
"Contraction of private spending, triggered by the shock from the consumption tax hike, was profound."
Millions of shoppers flocked to shops in a last-minute buying binge before the increase on April 1, with demand falling off sharply after prices went up.
Wednesday's data were the first gross domestic product numbers released since the rise, and underscore the challenges that Tokyo faces in pressing on with its bid to kickstart an economy long plagued by deflation and laggard growth.

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 japans economy shrinks 17 in apriljune Arab Today, arab today japans economy shrinks 17 in apriljune

 



Arab Today, arab today
Arab Today, arab today US, Britain ban laptops on flights

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Hezbollah commander killed by own men

GMT 07:43 2017 Wednesday ,22 March

Hezbollah commander killed by own men
Arab Today, arab today Tunisian media host praises her new experience

GMT 12:35 2017 Wednesday ,15 March

Tunisian media host praises her new experience

GMT 10:43 2017 Wednesday ,22 March

Bags carry Hermes to record profit

GMT 09:49 2017 Wednesday ,22 March

Khamenei fleshes out 'Made in Iran' vision

GMT 08:46 2017 Wednesday ,22 March

Cooperation with specialised British companies hailed

GMT 07:35 2017 Wednesday ,22 March

David Rockefeller Dies at Age 101
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Palestinian police wage war

GMT 07:53 2017 Friday ,17 March

Palestinian police wage war
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 14:17 2017 Monday ,20 March

Cholesterol-slashing drug not impair brain

GMT 17:08 2017 Saturday ,18 March

Reveals secrets of tourism flights to space

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
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