InfoAnda - Japan economy contracts sharply in fourth quarter

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Obama raises rights as Chinese President arrives | 20 January 2011
Lohan fitted with alcohol monitoring device | 25 May 2010
Russia drops unilateral WTO bid for ex-Soviet pact | International | | 10 June 2009

Afghan police: 3 die in checkpoint clash | 16 December 2008

">Forum Views () ">Forum Replies ()

Read more with google mobile : Japan economy contracts sharply in fourth quarter

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Japan economy contracts sharply in fourth quarter By TOMOKO A. HOSAKA,Associated Press Writer AP - Monday, February 16 TOKYO - Japan's economy contracted at the fastest pace in 35 years in the fourth quarter as a collapse in global demand drained life from the world's second-biggest economy. ADVERTISEMENT Japan's gross domestic product, or the total value of the nation's goods and services, dropped at an annual pace of 12.7 percent in the October-December period, the government said Monday. That's the steepest drop for Japan since the oil shock of 1974 and far outpaces declines of 3.8 percent in the U.S. and 1.2 percent in the euro zone. A survey of economists by Kyodo news agency had projected an 11.6 percent contraction. Japan now faces "the worst economic crisis in the postwar era," said Economy Minister Kaoru Yosano, according to Kyodo news agency. Already, Toyota Motor Corp., Sony Corp. and a slew of other companies have announced deep job cuts and projected net losses for the full fiscal year through March. The yen's appreciation, which erodes income from abroad has only intensified the pain. Japan's economy has now contracted for three straight quarters. Compared to the third quarter, GDP fell 3.3 percent. For all for 2008, it contracted 0.7 percent _ the first decline in nine years, according to the Cabinet Office. Martin Schulz, an economist at Fujitsu Research Institute in Tokyo, said the three main pillars that lifted Japan out of the so-called "lost decade" of the 1990s had crumbled _ favorable exchange rates, overseas investment and demand, and old industry such steel, cars and chemicals. "The recovery was unsustainable," Schulz said. "It was built on a major global bubble, and now basically the economy is paying the price." Japan's exports plummeted a record 13.9 percent in the fourth quarter, the government said, as the deepening global slowdown choked off demand for the country's cars and gadgets. The figures underscore the vulnerability of Asia's export-driven economies during global downturns and point toward more cuts in jobs, production and profits in the coming months. Even demand from emerging markets, which earlier had partly offset declines in North America and Europe, began falling sharply in the fourth quarter. Last week, electronics company Pioneer Corp. said it will cut 10,000 jobs globally, joining a growing list of the country's corporate giants scrambling to slash their payrolls. Sony is shedding 8,000 workers, while Nissan Motor Co. and NEC Corp. are each cutting 20,000. Japan slipped into recession in the third quarter after its economy contracted two straight quarters _ a common definition of recession _ though many economists using other parameters say that the current downturn actually began in late 2007. In its latest forecast, the International Monetary Fund predicts Japan's economy will shrink 2.6 percent this year, outpacing the 2 percent overall decline it expects for advanced economies. To spur growth, Japan's parliament passed a contentious 4.8 trillion yen ($52.2 billion) stimulus plan in January that includes a cash payout that amounts to 12,000 yen ($133) per Japanese taxpayer. Prime Minister Taro Aso _ who faces dismal approval ratings _ has championed the idea, saying it will stimulate sagging consumer spending. But the public appears to see the handouts as a lavish waste of public money with limited impact. "With an election coming up, we believe Japanese policy will tend to put priority on boosting approval ratings rather than GDP," said Kyohei Morita, chief economist at Barclays Capital in Tokyo, in a recent report. Media reports over the weekend said Japan may be considering additional measures to shore up the economy with fresh spending likely to top 10 trillion yen ($109 billion). Japan's central bank, which lowered its key interest rate to 0.1 percent in December, has introduced various steps to try to thaw a corporate credit crunch. But there is little it can do to address the unprecedented decline in external demand. The Bank of Japan policy board is scheduled to start a two-day meeting Wednesday. In stock trading, the benchmark Nikkei 225 index was down 0.2 percent at 7,773.03. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Asian stocks fall as Japan's recession deepensAP - 1 hour 3 minutes ago Jakarta tells civil servants to 'buy Indonesian'AFP - 1 hour 20 minutes ago S.Korean won hits 10-week closing low vs dollarReuters - 1 hour 35 minutes ago China expresses deep concern over US trade protectionismAFP - 1 hour 39 minutes ago Related Articles: Business China Money: Loan surge may fuel equities bubbleReuters - 59 minutes ago Singapore Airlines to cut capacity, ground planesAP - 1 hour 1 minute ago Reliance Infra founder pledges 16.35 pct equityReuters - 1 hour 1 minute ago Asian stocks fall as Japan's recession deepensAP - 1 hour 3 minutes ago Asahi Kasei to buy U.S. medical firm TechniKromReuters - 1 hour 5 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Seductive chemicals hidden in sloppy kisses Climate change could be even worse than feared Swiss banks go back to basics In defence of bonuses: experts warn on banker pay caps Saudi king shakes up government View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Monday, 16 February 2009
Dallas Radio Stations Allows Listeners To Vote Whether It Should Ban Britney's New Single
Crisis leaves Russian ambitions thwarted at Rome G7 | International |
Israel mulls releasing uprising leader to Abbas | International |
Afghanistan's Karzai hits out at U.S. critics | International |
Guantanamo detainee fit to travel: British diplomats | International |
Sony Ericsson unveils 2 phones, video service | Technology |
Illinois Lawmakers Looking Into Whether Burris Perjured Himself During Blagojevich Hearings
U.S. Envoy Holbrooke Arrives In India To Hold Security Talks
Bomb Detonates Inside California Prison
Man Bitten By Rattler In Wal-Mart Sues
Banks Agree To Foreclosure Moratoriums Until Obama Details Housing Plan
Oscar documentaries may come down to the Wire | Entertainment |
Nothing says 'I love you' like 'Friday the 13th' | Entertainment |
Bomb Detonates Inside California Prison
Man Bitten By Rattler In Wal-Mart Sues
Gaza man killed in recycling accident
Chavez wins re-election chance in economy's shadow | International |
Suspected US missile strike kills up to 10: Pakistani official
Crisis leaves Russian ambitions thwarted at Rome G7 | International |
Chris Brown Releases First Statement Regarding Battery Allegations
Israel's Olmert says freeing soldier is top priority
North Korea says has right to launch missiles | International |
Earth-like planets in our galactic neighborhood
Pope to have presidential escort for Israel trip
U.S.-led forces kill Taliban commander: officials | International |
Merkel does not rule out nationalising Germany's HRE bank
Iraqi election commission acknowledges fraud
Top Mexico drug cop charged with working for cartel | International |
AIDS: 'Major advance' seen in revolutionary gene therapy
Livni says "no" to joining a Netanyahu-led coalition
Zimbabwe's MDC undecided on response to arrest | International |
White House ups pressure on US automakers
Israel's Livni cool to deal with Netanyahu
Sarkozy, unions set for showdown on economy | International |
Mexico wins new kissing record
Algerian forces kill senior Qaeda figure: paper | International |
North Korea looming over Clinton's Asia trip
En route to Asia, Clinton pledges engagement
Obama targets housing after stimulus victory
Mobile data demand up despite economy: survey | Technology |
Clinton leaves for Asia vowing to strengthen ties
Adobe to make video on smartphones as on PCs | Technology |
US military deaths in Iraq war at 4,245
Feature: Fair Use Legal Battle Erupts Over Famous Obama Poster
Sirius creditors threaten to oust CEO: report | Technology |
Hong Kong airport fury makes online hit
US plane was on autopilot before icy crash
Chris Brown Releases First Statement Regarding Battery Allegations
Facebook use similar on mobile phones, computers: study
LG to grow market share with cheaper phones | Technology |
Doomed Flight Was Switched On Autopilot
Syria says US permits money transfer to charity
Mobile data demand up despite economy: survey
Nokia's Ollila sees recession lasting 2-3 years | Technology |
China jails 20 in 'biggest-ever' Internet gambling case: report
British, French nuclear subs crash in Atlantic
Facebook use similar on mobile phones, computers: study
Mobile data demand up despite economy: survey
Simon and Garfunkel reunite in New York | Entertainment |
British singer M.I.A. gives birth to boy | Entertainment |
Hollywood slowly opening door to gay drama
Cambodia readies for first KRouge trial
Nothing says I love you like Friday the 13th | Entertainment |
CIA helped India, Pakistan after Mumbai
Benjamin Button stays on top overseas | Entertainment |
Australian wildfire suspect named
Clinton to start Asia tour in Japan
U.S. envoy in India to talk Pakistan and Afghanistan
Jakarta tells civil servants to 'buy Indonesian'
Timberlake tops GQ's list of `10 Most Stylish Men'
Missiles hit house in NW Pakistan
US-ENTERTAINMENT Summary
S.Korean won hits 10-week closing low vs dollar
Regional Taliban commander killed in airstrike
Simon and Garfunkel reunite in New York
Seoul shares down as steelmakers, airlines retreat
Witness: Missile destroys Pakistani house
"Benjamin Button" stays on top overseas
China expresses deep concern over US trade protectionism
China clears Danone, milk products of melamine
Hollywood slowly opening door to gay drama
Korea Hot Stocks
Beijing to lend 29 Qing Dynasty relics to Taiwan
New e-book captures kids' hopes, dreams for Obama
China's January foreign investment down 33 percent
Wildfires last straw for parched Australian wineries
Japan economy shrinks at fastest rate in 35 years
British singer M.I.A. gives birth to boy
Japan says economic crisis worst since WWII
'Nighthawks' plundering England's buried treasures
Japan economy contracts sharply in fourth quarter
'Slumdog' on pole as Oscars reach home stretch
Asia struggles to spend its way out of gloom
Hundreds of thousands in Iraq Shiite ceremony
Farrah Fawcett Sues Over Use Of Her Photos Without Permission
Bomb blasts as Iraq Shi'ite rite ends with trek home
Estelle Bennett, One Of The Members Of Girl Group The Ronettes, Dies At 67
Pakistan restores sharia in Swat; U.S. missile kills 26 | International |
Air raid kills Taliban commanders in Afghanistan: military
Israeli aircraft bomb suspected Gaza tunnels | International |
Kyrgyzstan takes step towards U.S. air base closure | International |
Australian fires toll rises as arsonist faces court | International |
Bomb blasts as Iraq Shi'ite rite ends with trek home | International |
Microsoft revamps mobile push | Technology |
Huawei says to sell 2-3 Android phones this year
Nokia unveils online software shop | Technology |
SEPTA Bus Driver Choking On Cough Drop Loses Control, Crashes Into House
Nokia unveils media, apps store
Samsung launches solar-powered phone | Technology |
McCain: Stimulus Was A Bad Start For Obama's 'Bipartisanship'
TI sees projectors as popular as cell cameras
Cell phone demand to stay strong despite downturn: U.N. | Technology |
PETA Takes A Swipe At McDonald's Chicken Slaughter Practices
TI sees projectors as popular as cell cameras | Technology |
American Homeowners Rent Rooms To Survive Crisis
Justice Ginsburg Recuperating At Home After Pancreatic Surgery
U.S. Gasoline Prices Approach $2 Per Gallon
Huawei says to sell 2-3 Android phones this year | Technology |
At least 19 migrants drown off Canaries
Justice Ginsberg Recuperating At Home After Pancreatic Surgery
Geithner Assures Finance Leaders About Bailout Plan In First G7 Meeting
Nokia unveils media, apps store
Panel To Be Designated To Oversee Car Industry
California Budget One Vote Short Of Approval
R&B star Chris Brown apologizes, seeks counseling | Entertainment |
Recession takes little sheen off Oscar gold | Entertainment |
"Slumdog" adds two awards to collection
NKorea may distract from Clinton message to Asia
Cambodia genocide trial to begin
Film world has capitalism and crisis in its sights | Entertainment |
Clinton starts Asia trip with warm words for Japan
Slumdog adds two awards to collection | Entertainment |
Pakistan offers Islamic law to pacify Swat
Economic crisis deepening: China's Hu
Couple that lost child in China quake has baby
Coldplay notch world's best-selling album of 2008
Honda sees brisk demand for cheap hybrid Insight
Suspected U.S. missile strike kills 26 in Pakistan
Recession takes little sheen off Oscar gold
Filipino workers' 2008 remittances up 13.7 percent
Chinese plane makes emergency landing after leak
Director: Jackie Chan film too violent for China
NKorea hints at missile launch as Kim turns 67
Film world has capitalism and crisis in its sights
Chinese blogger stabbed after public reading
WRAPUP 1-S&P sharply lowers South Korea GDP forecast
Fire guts famous old wooden house in Tokyo
India interim budget offers no big new stimulus
Tears, jeers and cross-dressing: Oscar night drama in store
China to lend relics to Taiwan: state media
UBS aims to raise nearly $300 mln for Asian bonds
Japanese author Murakami wins Jerusalem prize
Taiwan dollar at over 5-yr low on economic worries
Taiwan banks 'agree' loan for chip maker ProMOS
Director, film company to create Chinese 'DreamWorks'
SKorea, EU delay free trade talks: officials
SEPTA Bus Driver Choking On Cough Drop Loses Control, Crashes Into House
Microsoft Offers $250,000 Reward For Info On Worm Virus Source
PETA Takes A Swipe At McDonald's Chicken Slaughter Practices
California Polygamist Sentenced To 7 Life Terms For Abusing Children, Wives
Photographer, AP, Street Artist Battle For Rights Over Famous Obama Poster
Texans Hear Sonic Boom, See Fireball; U.S. Strategic Command Says It Was Likely A Meteorite
From A War Zone To Peace Sanctuary
Adobe to make video on smartphones as on PCs
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01