| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy


How to use our RSS feed

Follow Finfacts on Twitter

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News




Content Management by interactivetools.com.

Asia Economy Last Updated: Nov 19, 2014 - 8:23 AM

Japan fell into recession in third quarter of 2014
By Michael Hennigan, Finfacts founder and editor
Nov 17, 2014 - 4:32 AM

Email this article
 Printer friendly page

Shinzo Abe, Japan's prime minister, receives a cool welcome from Xi Jinping, Chinese president, Beijing, Nov 10, 2014.

Japan's economy unexpectedly slipped into recession in the July-September quarter, government data showed Monday - a development that is likely to result in Shinzo Abe, prime minister, delaying the second planned hike in sales taxes.

Gross domestic product (GDP) contracted an annualized real 1.6% in the third quarter, following a revised 7.3% plunge in April-June, the Cabinet Office said in a preliminary report.

The GDP fall corresponded to a 0.4% dip on the quarter and it reflected the continuing fallout from last April's sales tax hike from 5% to 8%.

The weak data will make opposition parties “raise their voice, saying ‘Abenomics was a failure,’ ” said Yuichi Kodama, chief economist at Meiji Yasuda Life Insurance Co according to The Wall Street Journal. “People in the market may harbor doubts about policy continuity and confidence in the government.”

Indeed, after the release of the data, Yukio Edano, secretary-general of the main opposition Democratic Party of Japan, said, “The economic policy of the past two years may have been effective in pushing up share prices, but it was not in turning around the real economy. We can say with confidence that Abenomics has reached its limit.”

Following the release of the GDP report, the yen/US dollar rate fell to 117 - its highest in seven years before rising to 115.7.

Earlier this month the Bank of Japan raised the planned amount of quantitative easing/ bond buying to boost markets

Private consumption grew an annualized 1.5% in Q3 after a drop of 18.6% in the second quarter while exports were weak in the quarter growing 1.3% quarter-on-quarter and imports also rose.

© Copyright 2011 by Finfacts.com

Top of Page

Asia Economy
Latest Headlines
IMF defers renminbi reserve decision; Devaluations losing firepower
Japan's trade deficit widens and GDP falls despite 33% yen devaluation
China's exports slide in July; Fx reserves dip $42.5bn in month
Chinese manufacturing PMI falls for 5th straight month in July; Japan at 5-month high
China's overseas investments to surge; Ireland got €99m of €46bn invested in EU in 2000-2014
China to overtake US economy in 2026; Income per capita will be 50% of US in 2050
Manufacturing activity in China and Japan contracted in June
China's manufacturing contracted for third straight month in May; Japan in slight rise
Asia accounts for 40% of global output, two-thirds of global growth
China's exports unexpectedly fell in April 2015 after March dip
China's growth in 2015 at slowest since early 2009
China's 2015 foreign trade continues to slide
Singapore remains world’s top location for business on 50th anniversary of independence
China's manufacturing activity fell to a 11-month low in March
China in surprise rate cut to boost sagging economy
Chinese Lunar New Year: Year of the Wood Goat begins this week
China’s manufacturing shrunk in January; Regional rise except Indonesia
Profits of Chinese industrial businesses plunged in 2014
China's growth in 2014 fell to a 24-year low
Services activity in China, Japan and India in moderate rises in December
China’s manufacturing industry remains competitive despite rising wages
China revises 2013 GDP up 3.4% to 56.5% of US economy size
China's manufacturing contracts in December; Japan's grows
China's imports slide in November; Emerging markets slow
Manufacturing PMI stalled in China in November; Fell in Korea, Indonesia , grew in India
China's manufacturing output contracted in November; Japan's accelerated
Ireland not among top 67 destinations for Chinese outbound FDI in 2014
Japan fell into recession in third quarter of 2014
Services slowed in China, contracted in Japan and stagnated in India in October
Manufacturing in South Korea/ Indonesia contracted in October; India in slight rise
Two Chinese manufacturing reports show trading near stagnation levels
Bank of Japan raises money printing target; Spending and wages plunge
China's manufacturing stagnates, Japan in moderate growth
China’s economy in third quarter grew at slowest pace in five years
Chinese exports jump in September; "Sadness will return soon"
World Bank cuts growth forecasts for developing East Asia including China
Japanese business confidence slightly improves; Manufacturing sector weak
Developing Asia remains fastest-growing region in world in 2014
Chinese manufacturing PMI rose slightly in September
Japan reports 26th straight monthly trade deficit; Public debt tops ¥1,000tn