View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
May 20, 2009

Times: Japan’s GDP shrinks by fastest rate ever

By Spear's

Japan spent the first quarter of 2009 in its worst spiral of decline ever recorded, with GDP in the world’s second largest economy shrinking at an annualised pace of 15.2 per cent as the country’s export-focused business model was tested to the extreme.

Japan spent the first quarter of 2009 in its worst spiral of decline ever recorded, with GDP in the world’s second largest economy shrinking at an annualised pace of 15.2 per cent as the country’s export-focused business model was tested to the extreme.

Plunging exports, a strong yen and an unprecedented drop in production were the chief culprits, though an acute drop in consumer spending also dealt significant damage to growth.

However analysts and Tokyo dealing floors appeared unfazed by the numbers: following the government’s recent revision to the GDP figures for the fourth quarter of 2008, economists had been expecting the contraction to be over 16 per cent in the January to March quarter.

To read the full story, visit timesonline.co.uk

Content from our partners
Why investors should consider investing in nature
HSBC Global Private Banking: Revisiting your wealth plan as uncertainty abounds
Proposed non-dom changes put HNW global mobility in the spotlight

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network