In the financial tsunami, as well as the dual pressures of rising yen, Japan's economy officially entered a recession, this is the first time in seven years.
According to Lianhe Zaobao reported that Japan's economy and finance minister Kaoru Yosano yesterday in the third quarter gross domestic product was negative 0.1 percent, indicating that the economy for two quarters of contraction are critical situation. In the previous quarter's gross domestic product was negative 0.9 percent.
He said that Japan's economy contracted for two consecutive quarters, will be followed by deterioration.
Business confidence fell down GDP
The financial impact of the tsunami, Japan is the second after Germany and Italy, the third official recession in developed countries. Analysts said that the deterioration of the economy coupled with the company laid off, consumer spending will shrink further.
Cabinet Office data released yesterday pointed out that Japan's business confidence led to the decline in investment in equipment is not active, driving down Japan's GDP.
For Japan's economy, Yosano said at a press conference that: "the whole world economy is entering a hard time for the general view ... ... Japanese enterprises to invest in new equipment, as a result of all this view and has been daunting."
Down the situation will be even more severe
Japan's economic recession will have an impact on exports, he said: "In the export industry, the rising yen can not be ignored. At the same time, in view of the financial impact of the tsunami, nor can the United States, China, Europe or Southeast Asia's exports Expected. Goes on (economic) situation will be even more severe ... ... Japan has entered a recession. "
Chief Cabinet Secretary Takeo Kawamura said: "This is the economic situation of concern and, more importantly, the Government must implement economic policy in order to allow the economy to become active."
According to the report, the financial tsunami, authorities on economic prospects despite the "pessimistic" statement, but the clear "recession" is the first time. Authorities had predicted could be made this year's 1.3 percent growth in real terms.
Aso to save the program ineffective opposition parties to boycott the National Assembly
Analysts believe that the impact of Japan's wave of wave of economic recession is likely to continue until the middle of next year.
According to public opinion, Japan is not the view of the financial epicenter of the tsunami, compared to Europe and the United States, the recession will be relatively small too, and the benefits of soaring yen, Japan will be able to gradually let the family business, as well as benefit, and resumption of consumption. In addition, in the second half of next year in China to expand investment in infrastructure, Japan's recovery is expected to export.
On the other hand, according to a poll published yesterday, the Prime Minister Taro Aso proposed economic rescue program is invalid, the support rate fell below 30 points, while the opposition Democratic Party threatened to boycott parliament session.
TV Asahi's poll showed that only 29.6 percent of the respondents expressed support for the cabinet Aso, a 13.2 percent reduction in October.
Despite the Aso last Saturday in Washington at the G-20 summit diplomacy seeking to expose and put forward to overcome the global financial crisis measures, but the Japanese voters are more concerned about domestic issues.
According to Lianhe Zaobao reported that Japan's economy and finance minister Kaoru Yosano yesterday in the third quarter gross domestic product was negative 0.1 percent, indicating that the economy for two quarters of contraction are critical situation. In the previous quarter's gross domestic product was negative 0.9 percent.
He said that Japan's economy contracted for two consecutive quarters, will be followed by deterioration.
Business confidence fell down GDP
The financial impact of the tsunami, Japan is the second after Germany and Italy, the third official recession in developed countries. Analysts said that the deterioration of the economy coupled with the company laid off, consumer spending will shrink further.
Cabinet Office data released yesterday pointed out that Japan's business confidence led to the decline in investment in equipment is not active, driving down Japan's GDP.
For Japan's economy, Yosano said at a press conference that: "the whole world economy is entering a hard time for the general view ... ... Japanese enterprises to invest in new equipment, as a result of all this view and has been daunting."
Down the situation will be even more severe
Japan's economic recession will have an impact on exports, he said: "In the export industry, the rising yen can not be ignored. At the same time, in view of the financial impact of the tsunami, nor can the United States, China, Europe or Southeast Asia's exports Expected. Goes on (economic) situation will be even more severe ... ... Japan has entered a recession. "
Chief Cabinet Secretary Takeo Kawamura said: "This is the economic situation of concern and, more importantly, the Government must implement economic policy in order to allow the economy to become active."
According to the report, the financial tsunami, authorities on economic prospects despite the "pessimistic" statement, but the clear "recession" is the first time. Authorities had predicted could be made this year's 1.3 percent growth in real terms.
Aso to save the program ineffective opposition parties to boycott the National Assembly
Analysts believe that the impact of Japan's wave of wave of economic recession is likely to continue until the middle of next year.
According to public opinion, Japan is not the view of the financial epicenter of the tsunami, compared to Europe and the United States, the recession will be relatively small too, and the benefits of soaring yen, Japan will be able to gradually let the family business, as well as benefit, and resumption of consumption. In addition, in the second half of next year in China to expand investment in infrastructure, Japan's recovery is expected to export.
On the other hand, according to a poll published yesterday, the Prime Minister Taro Aso proposed economic rescue program is invalid, the support rate fell below 30 points, while the opposition Democratic Party threatened to boycott parliament session.
TV Asahi's poll showed that only 29.6 percent of the respondents expressed support for the cabinet Aso, a 13.2 percent reduction in October.
Despite the Aso last Saturday in Washington at the G-20 summit diplomacy seeking to expose and put forward to overcome the global financial crisis measures, but the Japanese voters are more concerned about domestic issues.
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