Consumer spending helps Japan dodge recession in the first quarter of 2016

Japan sidestepped a recession with annualised growth of 1.7% in the first quarter of 2016, preliminary data showed on Wednesday. But the reading underscored how the drive for a firm recovery in the world’s number three economy is not gaining traction. The improvement in the country’s gross domestic product between January and March at a quarterly rate of 0.4% came after a contraction in the last three months of 2015…

Japan manufacturing PMI picks up in Q3, but more data needed to decide on 2015 sales tax hike

(Reuters) – Japan’s manufacturing activity picked up in the third quarter, a survey showed, but economists say they need more information on wages and consumer spending to determine whether the government should raise the sales tax again next year…

Japan cuts economic assessment as consumer spending seen pausing

(Reuters) – Japan’s government cut its overall economic assessment for the first time in five months as private consumption is struggling to recover from the slump caused by April’s sales tax hike, clouding the outlook for a sustained recovery…

Japan on track to meet price target, no need to expand stimulus: BOJ’s Iwata

(Reuters) – Bank of Japan Deputy Governor Kikuo Iwata on Wednesday reiterated policymakers’ conviction that the economy can recover from a deep slump, saying that households and companies will boost spending as the pain from an April sales tax hike eases…

Japan PM Abe’s thinking it’s ‘utterly neutral’ on next tax hike: Minister Amari

(Reuters) – Prime Minister Shinzo Abe stands “utterly neutral” on whether to decide in December to raise the sales tax again next year but he will be very cautious in his decision given the potential blow to the economy, Japan’s economy minister said on Friday…

Top 10 Weekly Forex Market Headlines – 05.30.2014

1. U.S. services sector expands at fastest pace in 7 months May 27, The U.S. services sector expanded in May at its fastest rate since March 2012 as employment creation accelerated, an industry report showed on Tuesday. Financial data firm Markit said its “flash” services Purchasing Managers Index hit 58.4 in May compared with April’s […]

Pre-tax hike shopping rush boosts Japan GDP to 5.9% growth

HONG KONG (CNNMoney) Japan’s economy grew at a breakneck pace in the first three months of the year as consumers went on a massive shopping spree to avoid a planned sales tax increase. Gross domestic product (GDP) grew at an annual rate of 5.9% in the first quarter, Japan’s Cabinet Office said Thursday…

BOJ may be forced to ease again if exports continue to fall

(Reuters) – The Bank of Japan is increasingly confident that the economy is weathering a recent tax increase and is on its way out of deflation, but another threat to that optimistic scenario is lurking – weak exports. If shipments abroad continue to fall short of the central bank’s forecasts…

Daily Forex Market Review 04/01/14 (+30 pips)

Today’s Trade Result: +30 pips July 2013: +160 pips June 2013: +336 pips May 2013: -50.5 pips April 2013: +851.5 pips March 2013: +327.5 pips February 2013: +127.5 pips January 2013: +1107.5 pips December 2012: +29 pips November 2012: +35.5 pips October 2012: +259.5 pips September 2012: +112.5 pips August 2012: +365.5 pips July 2012: […]

Will Abenomics survive Japan’s sales tax increase?

Tokyo office worker Hideo Noda went on a recent shopping spree: a Galaxy smartphone for his son and a Roomba vacuum cleaner, clothes and bulk food for the family. Mr. Noda is front-loading purchases ahead of a big jump in Japan’s sales-tax rate on Tuesday to 8% from 5%…

Japan’s industrial output up 4%, core inflation at 5-year highs

(Reuters) – Japan’s factory output rose in January at the fastest pace in more than two years and core inflation hovered at five-year highs, suggesting the economy has enough momentum to withstand an expected hit from a sales tax hike scheduled for April…

Japan’s recovery still on track even if Q2 GDP contracts after sales tax hike: BOJ’s Ishida

(Reuters) – Japan’s recovery will remain on track even if the economy contracts in the second quarter after sales tax is raised on April 1, a Bank of Japan board member said on Wednesday. In a sign of reluctance to ease policy further, Koji Ishida said the Bank of Japan (BOJ) should be careful in its economic assessment…

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