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Post by jeffolie on Sept 10, 2007 12:50:49 GMT -6
Japan's economy contracted [negative as in recession] 1.2% in quarter The Japanese economy contracted at the fastest pace in more than four years in the second quarter, raising concerns that what's been a corporate-led recovery may be losing steam as capital expenditures also fell sharply. Moreover, capital spending by Japanese businesses contracted 1.2% from the previous quarter, the Cabinet Office said. Public investment fell 2.6% capital spending has now contracted for three of the past four quarters, while exports were also on a weakening trend. "The outlook for exports seems to be deteriorating, with the U.S. economy slowing and the yen appreciating," Shiraishi said. www.marketwatch.com/news/story/japans-economy-slows-more-expected/story.aspx?guid=%7B77D05F9D-0E2B-4F9C-9260-5F62127B0015%7D
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Post by unlawflcombatnt on Sept 10, 2007 14:25:30 GMT -6
Jeff,
Thanks for finding this article. Earlier today, on CNBC's "Squawk-Box", it was reported that Japan's 2nd quarter GDP was revised downward to -0.3% (down from the previously stated +0.1%).
I didn't realize the -0.3% just the 2nd quarter by itself, instead of the annualized growth rate for the 2nd quarter (like the U.S. does).
Another interesting point from the article is that Japanese Consumer Spending accounts for only 55% of GDP, compared to 75% in the United States.
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