Arab Today, arab today japans economy shrinks 17 in apriljune
Last Updated : GMT 21:31:16
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.

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

 



Arab Today, arab today

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 Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today
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