Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Friday, August 17, 2018 11:07:46 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Japan economy shrinks after two years of growth

By
18th-May-2018       
Comments
Share your thought
Post a comment »
Read all () »

AFP, Tokyo :
Japan's economy slid into reverse for the first time in two years at the beginning of the year, hit by sluggish consumption and a winter cold snap, but analysts predicted the world's third-largest economy would quickly rebound.
The economy contracted by 0.2 percent quarter-on-quarter in the January-March period, compared with growth of 0.1 percent at the end of 2017, the Cabinet Office said Wednesday.
This brought to an end a series of eight consecutive quarters of growth, a winning streak not seen since the heady days of the "miracle" boom of the 1980s when the Japanese economy ruled the world.
The data will come as a blow for the vaunted "Abenomics" policies of Prime Minister Shinzo Abe, who is already under pressure over a series of scandals.
But experts said they expected a pause in the growth trend rather than a prolonged downswing.
"There were one-off special factors in the January-March period, ranging from stock market sell-offs to higher vegetable prices due to bad weather," said Takeshi Minami, chief economist at Norinchukin.
The yen also strengthened against other major currencies on safe-haven buying, clouding the prospects for Japanese exporters.
"There are worries about some emerging economy markets but the global economy as a whole is likely to continue its recovery for some more time.  (Japan's) GDP will likely come back to positive growth in April-June," Minami told AFP.
The economy was stalled by stagnant private consumption, which was flat in the January to March period after an uptick of 0.2 percent in the final quarter of last year.
Private residential investment also plunged another 2.1 percent after a 2.7 percent fall in the previous quarter.
And exports of goods and services slowed, rising 0.6 percent compared to an increase of 2.2 percent in the previous three months.
But despite the broad-based slowdown, Minami said the economy would remain solid.
"If you look at the Bank of Japan's 'Tankan' survey released in April, business confidence was unshaken, with corporate investment plans remaining solid," he said. The key survey by the central bank last month showed confidence among Japan's biggest manufacturers had slipped after five quarters of rises but the headline index still remained close to the highest level in over a decade. Katsunori Kitakura, lead strategist at Sumitomo Mitsui Trust Group, also believed the disappointing first quarter figure was "a one-off event, as weak personal consumption coincided with other special factors."

Tariff
Add Rate

News Archive

Inside The New Nation

Football »

Los Angeles FC midfielder Eduard Atuesta (top) leaps over Real Salt Lake defender Justen Glad during the second half of an MLS soccer match in Los Angeles on Wednesday.


Cricket »

India mourns cricket 'renaissance man' Wadekar Sir


AFP, Mumbai : Indian cricket heroes on Thursday paid tribute to Ajit Wadekar, who led the country to their first series triumphs in England and the West Indies, following his death at the age of 77."He will always be remembered as the 'renaissance man' of Indian cricket," said Board of ...

Editorial »

No improvement in Hajj management


A TOTAL of 606 people could not fly to Saudi Arabia to perform Hajj this year for various reasons, including negligence of hajj agencies, said Religious Affairs Minister on Wednesday. He said a number of complaints have been received against some agencies and action will be taken against them after ...

Entertainment »

Deepika features in the September issue of Vogue Magazine


Actress Deepika Padukone has now been featured by the prestigious Vogue magazine in their September issue. Deepika Padukone has featured in the issue alongside 33 other achievers who are known for effecting change and leading conversations wherever their career has taken them. Deepika is the only Indian personality to get ...

City »

PM pays tributes to Samakal Editor Golam Sarwar


Prime Minister Sheikh Hasina on Thursday paid rich tributes to veteran journalist and daily Samakal Editor Golam Sarwar.  On behalf of the premier, her Press Secretary Ihsanul Karim placed a wreath on the coffin of Golam Sarwar on the Jatiya Press Club premises here on Thursday afternoon.Earlier, a namaz-e-janaza of ...

International »

US newspapers hit back at Trump, defend free press


AFP, Washington US newspapers big an:d small hit back Thursday at President Donald Trump's relentless attacks on the news media, launching a coordinated campaign of editorials stressing the importance of a free press.Leading the charge was The Boston Globe, which had issued an appeal for this drive-accompanied by the hashtag ...

Chittagong »

CCC Mayor A J M Nasir Uddin offering Munajat at a Milad, Dao Mahfil and discussion meeting in observance of the National Mourning Day recently.


.

Editorial »

Problems are not solved but multiplied by politically motivated arrests and cases


AGAINST the backdrop of quota reform movement, a second-year student of Social Science at Eden College Lutfur Nahar Luma was arrested from her grandfather's house in Belkuchi upazila of Sirajganj district in the small hours of Wednesday. Police said the cyber crime unit of the Counter Terrorism and Transnational Crime ...

Sports »

Federer opens with win over Gojowczyk, Kvitova ousts Williams


AFP, Cincinnati :Roger Federer began his US Open preparation with a quick 6-4, 6-4 defeat of Peter Gojowczyk in his first ATP Cincinnati Masters appearance since 2015.The 20-time Grand Slam champion, who turned 37 last week, is pacing his tennis year, playing a limited schedule and skipping events when he ...

Entertainment »

Kajol’s over-protective mother act steals the show


The makers of the Kajol starrer Helicopter Eela have dropped a goofy number from the film that depicts Kajol’s over-protective character in the film. Amit Trivedi’s composition has an upbeat melody and has been rendered by Ronit Sarkar. The peppy number opens with Kajol as Eela spying on her son ...

Entertainment »

Ishita`s play, telefilm in Eid


Sheikh Arif Bulbon :When Ishita won the hearts of many viewers during that time they remained very much eager to watch Ishita’s acting on the screen. But day by day, Ishita started to leave acting. However, viewers still show their keen interest to enjoy Ishita’s acting. She will be seen ...

International »

Trump calls sacked White House aide a


Reuters, Washington  :US President Donald Trump on Tuesday lashed out at former White House aide Omarosa Manigault Newman, calling her a "dog" as his fellow former reality TV star continued to publicly release recordings from her time in Trump's orbit.Their escalating feud was sparked by the release of a tell-all ...

Editorial »

Bangabandhu a great leader of the people and for the people


THE nation mourns the 43rd Shahadat Anniversary of Bangabandhu Sheikh Mujibur Rahman today with prayers and solemnity all over the country. He was assassinated with almost all of his family members in the wee hours of that fateful night at his home in the city. It was a night of ...

Editorial »

Our migrants are being defrauded and harassed in Malaysia but govt remains mum


SOME 270 Bangladeshi workers have allegedly been defrauded of over Tk 3.6 crore by an agent over securing valid work permits under the Malaysian rehiring programme. The Bangladeshi nationals had handed over their passports, other relevant documents and paid between Tk 144,000 and Tk 160,000 each to the agent for ...

Sports »

U.S. swimmer Katie Ledecky teaches Japanese elementary and junior high school students at an event in Tokyo on Tuesday. The 21-year-old American, fresh off a five-medal performance at the Pan Pacific Championships in Tokyo, answered questions about her career and training routine before jumping into the pool with more than 100 star-struck Japanese elementary and junior high school students to give them tips.


.

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news