The Japanese economy shrank at an annual rate of 1.8% in the first quarter of this year. That's according to revised government data and was slightly better than the initial estimate of a 2.0% contraction. The revision reported Monday was due to private sector investments, at minus 0.4%, up from the previous minus 0.5%.
FILE - Cars for export are loaded onto a cargo ship at a port in Yokohama, near Tokyo on Nov. 2, 2021. The Japan ese economy shrank at an annual rate of 1.8% in the first quarter of this year, according to government data Monday, June 10, 2024, revised to be slightly better than the initial estimate at a 2.0% contraction. FILE - The headquarters of Bank of Japan is seen in Tokyo on Aug. 18, 2023. The Japan ese economy shrank at an annual rate of 1.
Quarter-to-quarter, the economy slipped 0.5% in the January-March period, according to the Cabinet Office, unchanged from last month’s results.Wage growth has been slow, and prices on imports have risen amid a decline in the Japanese yen against the U.S. dollar. The dollar is trading at nearly 157 yen lately, up from about 140 yen a year ago.. But it makes imports more expensive, a sore point for a nation that imports almost all its energy.
Government officials raided the Tokyo headquarters of Honda Motor Co. Monday. Japanese media reports said a raid was coming soon on Mazda Motor Corp. Toyota and Suzuki Motor Corp. have already been raided.for the wide-ranging fraudulent testing involving the use of inadequate or outdated data in collision tests, incorrect testing of airbag inflation, rear-seat damage in crashes and engine power.
The safety of the vehicles aren’t affected, but the companies apparently wanted to speed up the testing process. Investors are also watching closely for the next action from the Bank of Japan, whose monetary policy board meets later this week.“The Japanese central bank’s stance will similarly be eyed closely, especially with the domestic currency weakness prevailing. Japanese manufacturers are facing the fastest rise in input costs,” S&P Global Market Intelligence said in a report.
General News Honda Motor Co. Ltd. Business Japan Tokyo Economic Indicators World News I Japan Government F World News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japanese Yen Rises On Inflation-Focused Dollar Despite Feeble Japanese GDP PrintUSD/JPY remains under pressure from this week’s US inflation figures despite worrying weakness in Japanese growth
Read more »
Japanese Yen drops amid uncertainty ahead of Japan’s Q1 GDP, US inflation dataThe Japanese Yen (JPY) falls further to 156.00 against the US Dollar (USD) in Monday’s European session.
Read more »
Japanese Yen appreciates as Japan’s Services PPI hit fastest increase since March 2015The Japanese Yen (JPY) continues to strengthen for the second consecutive day on Tuesday, drawing support from Japan’s Corporate Service Price Index (CSPI).
Read more »
Japanese Yen loses ground due to decline in Japan's Foreign ReservesThe Japanese Yen (JPY) edges lower on Friday, possibly influenced by the reduced Japanese Foreign Reserves released by the Ministry of Finance for May.
Read more »
Japan's Kato: Japan on track to normalize monetary policyA former chief cabinet secretary, Katsunobu Kato, said on Monday that Japan is seeing conditions fall in place for the central bank to normalize monetary policy.
Read more »
Japanese Yen remains flat despite BoJ keeping JGB amounts unchangedThe Japanese Yen (JPY) remains flat despite the Bank of Japan (BoJ) announcing on Thursday that it left the Japanese government bonds (JGB) amounts unchanged compared to the previous operation.
Read more »