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October, 26, 2016

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Business > Asia > Japan
Japan revises up first quarter growth, cooling central bank stimulus hopes
Japan's economy expanded at a slightly faster pace than first thought, revised figures showed Wednesday, knocking hopes that the central bank will unleash fresh stimulus this month.
Japan Prime Minister delays tax increase in blow for Abenomics
Japan's prime minister said Wednesday that he will delay a consumption tax hike that threatened the fragile economy, but analysts said the move highlighted his failure to spark growth.
The yen surged Wednesday as market sentiment soured on growing fears that Britain may leave the European Union and news that Japan is delaying a sales tax hike that threatens the fragile economy.
Japan's factory output fell 3.5 percent in April from the same month a year earlier, while consumer spending also edged lower, though both improved from the month before, the government said Tuesday.
Japanese Prime Minister Shinzo Abe intends to push back his debt-loaded country's next tax hike for 2 1/2 years, when he will likely have left office, reports said Sunday.
The number of flights from Taiwan to Japan has surged astoundingly, with the weekly number totaling 727 in May, up by over 40 percent from a year earlier, according to the Civil Aeronautics Administration (CAA).
Japan's core consumer prices fell for a second straight month in April, dealing another blow to Tokyo's faltering war on deflation, data showed Friday.
Japan's economy appears to be weakening as exports fell 10 percent and imports plunged 23 percent in April while a monthly survey of factory managers showed the sharpest deterioration in operating conditions in over three years.
Global growth tops agenda as G7 meeting kicks off in Japan
Divisions over reigniting global growth were set to surface at the G7 in Japan Friday, with US Treasury Secretary Jacob Lew expected to stand firm over any action threatening a currency war.
Japan sidestepped a recession after its economy grew in the first quarter, preliminary data showed Wednesday, but efforts to cement recovery in the world's number three economy were gaining little traction.
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