InfoAnda - Japan's recession worse than thought: official data

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

Gazans crowd markets and mosques as calm holds | 24 January 2009
Vatican Guards Arrest Woman For Approaching Pope Before Midnight Mass Service | 26 December 2009
Israeli police drag away ultra-Orthodox protesters | International | | 12 July 2009

Pakistan: 5 security officers killed in northwest | 20 July 2009

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

Read more with google mobile : Japan's recession worse than thought: official data

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's recession worse than thought: official data AFP - Wednesday, December 10 TOKYO (AFP) - - Japan sank much deeper into recession than previously thought in the third quarter as firms slashed investment to cope with the financial crisis, official figures showed Tuesday. Underscoring the rapidly worsening situation, Sony Corp. said it was cutting 8,000 jobs, axing about 10 percent of its global manufacturing sites and exiting unprofitable businesses to cope with the economic downturn. Japan's economy shrank 0.5 percent in the three months to September -- 1.8 percent on an annualised basis -- entering its first recession in seven years with a second straight quarter of negative growth, the government said. The gloomy snapshot of Asia's largest economy raised fears that the downturn will be deeper and longer than previously expected, which analysts said could prompt the central bank to cut interest rates again to almost zero. An initial estimate last month had shown the Japanese economy shrank 0.1 percent in the third quarter, and 0.4 percent on an annualised basis. "The data suggests that the economy is contracting faster than previously thought, and the depth of the recession will be more severe," said Glenn Maguire, chief Asia economist at Societe Generale in Hong Kong. "We still haven't really seen the damage to the economy in the fourth quarter. Japan is coming from a much weaker footing than previously thought," he said, predicting the recession will last until mid-2009. Weak business investment was the main culprit for the revision as companies slashed spending on new equipment and factories by 2.0 percent, compared with an initial estimate of 1.7 percent. Sony , seen as a bellwether of corporate Japan, said Tuesday that it would cut investment in its electronics business by about 30 percent and lay off about five percent of its 160,000 workers in its global electronics business. Japan's export-dependent economy was also hit by sluggish overseas shipments as the global financial crisis hit international trade. The latest snapshot of the Japanese economy was even worse than analyst forecasts for a contraction of about 0.2 percent quarter-on-quarter. The government said the economy shrank a revised 1.0 percent in the second quarter, which was also slightly worse than previously thought. Japan has relied on brisk exports of cars, electronics and other goods to drive its recovery from recession in the 1990s. But it has seen exports weaken in recent months due to worsening demand in recession-hit overseas economies. "Companies are facing a profit squeeze and there is pessimism about future demand so they will have to cut business investment in the coming quarters," said Tomoko Fujii, head of economics and strategy at Bank of America. The grim figures raised expectations that Japan's central bank may reduce borrowing costs again to spur economic growth. The Bank of Japan in October cut interest rates for the first time in seven years, by 20 basis points to 0.3 percent, as part of efforts to calm volatile markets and boost the recession-hit economy. Japan's central bank is likely to cut interest rates again, probably in February by 20 basis points to just 0.1 percent, Fujii predicted. 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 AutoZone posts lower fiscal 1st-quarter profitAP - 21 minutes ago Brazil economy grows 6.8 pct in 3Q before slumpAP - 1 hour 24 minutes ago Report: China automaker mulls buying Ford's VolvoAP - 2 hours 23 minutes ago NKorea nuke talks focus on verifying past activityAP - 2 hours 56 minutes ago Related Articles: Business Sony to cut 16,000 jobs, slash $1.1 bln in costsReuters - 20 minutes ago Malaysia's TMI may sell stake to repay debtReuters - 21 minutes ago AutoZone posts lower fiscal 1st-quarter profitAP - 21 minutes ago India's Bajaj Auto, Honda Siel cut vehicle pricesReuters - 22 minutes ago German economic expectations improve slightlyAP - 23 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Financial crisis tipped to cut cost of air travel Muslim pilgrims stone Satan at the hajj Stocks take flight on prospects for anti-recession moves Oil price falls below $40 Dow Chemical to cut 5,000 jobs, close 20 facilities View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Tuesday, 9 December 2008
Employers plan to further slow hiring -- Manpower
NKorea nuke talks focus on verifying past activity
Singapore Grand Prix wins Autosport Pioneering and Innovation Award
Pakistan arrests suspected Mumbai plotter
England cricketers arrive in India amid high security
Mercy Relief, Yayasan Pusaka Indonesia to launch potable water project in Medan
Football: Fiery match expected between Indonesia and Singapore
Madonna wins privacy case against UK tabloid
CNN's John King to anchor revamped Sunday newscast
Diana Krall to release Brazilian jazz record
Sri Lanka says 9 rebels killed in attacks
Sarkozy praises China amid uproar over Dalai Lama
Pakistan arrests suspected Mumbai plotter
Obama urged to create White House office for cyberspace
LA gun amnesty sees record spike as economy bites
India's Muslims hope to avoid backlash
`The Reader' is high-minded but emotionally cool
100s items missing from Russia's Hermitage
Indonesian porn law threatens Papua traditions
'Slava's Snowshow' brightens Broadway
Web users banned from Wiki page over nude girl
Belafonte to auction unknown papers of MLK
Electronic Arts and 2K add reality to videogames with PhysX
'Four Christmases' jingles all the way to box-office gold
A heartwarming 'Home' returns to off-Broadway
A look at the group accused in Mumbai attacks
Likud extends primary vote to determine party list
Moderate quake jolts Iranian island in the Gulf
French police arrest suspected new ETA military chief
Microsoft says ready to cut time search data held
Pakistan nabs Mumbai plot suspect | International |
Democrats propose 15 billion dollar auto industry bailout
US retail king Wal-Mart to reportedly sell iPhone
ETA chief suspected in deaths of Spanish police: Madrid
Military jet crashes in California suburb
Suspected new ETA military chief arrested in France
US media giant Tribune Co. files for bankruptcy
NATO says no Afghan winter lull in fight with Taliban | International |
EU seeks the end of Mugabe government
AB Inbev says it will cut 1,400 US jobs
Caribbean nations hope U.S. ends embargo on Cuba | International |
European markets post huge gains at close
Dow Chemical to cut 5,000 jobs, close 20 facilities
Russian court orders freeing of sick ex-Yukos chief
Military jet crashes in California suburb, two dead
Voters want people, not parties in Iraq's Basra | International |
France's Sarkozy calls on Mugabe to step down
Muslim pilgrims stone Satan at the hajj
9/11 suspects ask to confess but postpone pleas
Divided Kosovo city mines a dream of riches | International |
EU debates Congo force as pressure to act mounts
Blackwater security guards charged with deaths of 14 Iraqis
Israel postpones release of Palestinian prisoners | International |
Japan's recession worse than thought: official data
Pakistan arrests suspected Mumbai attack plotter
Seoul shares up after US gains; Samsung Elec sinks
Nintendo chief: man behind casual game boom | Technology |
Singapore Hot Stocks
NZ govt to cut taxes, spend more to beat recession
Khalid Sheikh Mohammed to plead guilty: judge
China approves another QFII foreign fund investor
Young graduates struggle for Silicon Valley jobs | Technology |
NZ Debt Office cancels Dec. 18 bond tender
Microsoft to soon sell full range of Web software | Technology |
Global stock rally on renewed hopes to jumpstart US economy
Presidential video game to hit retail shelves | Technology |
Oil rebounds from 4-year lows to above $43
Fed approves Chinese bank CCB to open office in US
Sprint eyes cost cuts, no new debt | Technology |
NZ stocks open higher as Wall St surges
China irks US with computer security review rules
Official: China wants to put $10B in Brazil oil
Messing finds her inner Latina in holiday film | Entertainment |
Future 'Late Night' host Fallon has a video blog
`Twilight' director won't return for sequel
Chekhov and Miller are Broadway moneymakers
`Four Christmases' still celebrating with $16.8M
Pulitzer Prizes to allow online-only publications
Oscar buzz swirls around The Reader director | Entertainment |
Miley Cyrus, Obama items hot online sellers in 2008 | Entertainment |
NBC restructures TV divisions in bid to beat slump | Entertainment |
Stacy Keach says golf keeps him sharp on stage | Entertainment |
X-Factor's Leona Lewis tops UK singles chart | Entertainment |
Presidential video game to hit retail shelves | Entertainment |
NZ seeks growth to lift economy from recession
Thai opposition may take power, army's aid hinted
Former Classics IV singer Dennis Yost dies at 65
Suspect in Ruffalo shooting in custody
Filipino militants free 7 hostages after battle
Nagging wife behind lottery win for young couple
RPT-GLOBAL MARKETS-Asia stocks gain, yen up as caution lingers
Moderate earthquake hits Pakistan
Report: Leno to stay at NBC, moving to prime time
Nomura to cut more than 100 jobs in Asia-media
NKorea nuke talks focus on verifying past activity
Oil moves higher in Asia
China bans pork imports from Ireland
Australian tennis arena named in honour of Ken Rosewall
Reforms triggered a style revolution in China
Russia buries first post-Communist Orthodox patriarch
Police in riot-hit Greece brace for more unrest | International |
Protests continue in Athens student district after looters' rampage
EU launches Kosovo mission amid uncertainty
Military jet crashes in California suburb, three dead
Nuclear envoys seek North Korea deal despite gloom | International |
French police arrest suspected new ETA military chief
Zimbabwe cholera death toll reaches 589, says U.N. | International |
Caribbean nations urge U.S. to end Cuba embargo | International |
Blackwater security guards charged with killing 14 Iraqis
Young Chinese face the unknown
9/11 suspects seek guilty plea bid
Winter and economy chilling China quake zone | International |
US military deaths in Iraq war at 4,209
S.Korea c.bank board united on Oct 27 rate cut
Five killed as Sri Lanka troops close in on rebel town
Sony cutting 8,000 jobs amid global downturn
UMC cuts Q4 guidance after weaker Nov sales
Sony to cut 8,000 jobs, shut plants
Nepal's Maoists say economic crisis shows capitalism has failed
Vietnam sends officials to Qatar over work-visa ban
Nepal steps up security after attacks in India
Seoul shares end steady; Hynix falls, steelmakers up
Bangladeshi parents accused of holding daughter captive
S.Korea ruling party calls for lower bank reserves
Taiwan UMC's Nov sales down by a third
Oil steady near $44 as investors eye OPEC cuts
China's yuan will climb in the long run: report
Report: Chinese police detain political critic
NZ dollar retreats from 2-wk highs; debt mixed
NBC moving Jay Leno to prime time TV: report | Entertainment |
China media reports psychiatric hospital abuse
Asian stocks track Wall Street higher
Woman surrenders in shooting of Ruffalo's brother | Entertainment |
MOM relocates 1,370 foreign workers to approved accommodations
ADB approves 50.5 million dollar loan to Vietnam
The Simpsons lead Writers Guild TV nominations | Entertainment |
Babylon's history swept away in US army sandbags
Mumbai neighbourhood uneasy over return of Jewish centre
Shah Rukh Khan says new film is about hope
Met revives Massenet's "Thais" for Renee Fleming
China ups efforts to rid food of illegal additives
China to probe mental hospital abuses: state media
NKorea talks look at new Chinese proposal
Philippine president goes to Qatar to secure jobs
30 years after reform, China farmers once again hope for change
Pakistan won't hand suspects to India
China to launch food safety campaign
Thai parties seek support as nation awaits new PM
Depression said to ease for Japan's crown princess
Australia defends new refugee laws
Dutch supercar roars into recession-hit Singapore
Vivian Chow's boyfriend caught kissing hot chick
Videogame players can pretend to be Barack Obama
India poll results lift ruling Congress: analysts
Hong Kong reports bird flu outbreak
Thai distributor bans Economist over king article
Suspected remains of US airmen repatriated
Rights group worries about Malaysia's next leader
NATO kills Taliban commander in targeted operation
Bird flu found in Hong Kong chicken farm
Magnitude 7 quake rocks South Pacific islands
Indonesian president criticised for signing anti-porn law
Greenpeace protests anti-whaling arrests
Reuters Southeast Asia News Highlights 0900 GMT Dec 9
Philippines says debts up 1.9 percent to 84.4 billion dollars
China: France should work to repair strained ties
S’poreans less confident of getting by without main source of income
Rain threatens India-England cricket Test
Wine: Forget the rules! Asia guru says only freshness is key
China considering humanitarian aid for Zimbabwe
Israel reopens crossings with Gaza to aid, fuel
Israel's Likud elects hardline slate for elections
EU agrees renewable energy to provide a fifth of needs by 2020
Raids on militants show Pakistan's intent: Zardari | International |
AP Interview: Marines seek to ease strains of war
Job cuts darken outlook for world economy
EU launches Kosovo mission: spokesman
Israeli hardliners score well in Likud vote
Police make 87 arrests after Athens night rampage
Vote for Thai PM likely next week, official says | International |
U.S. declines to free
Congo conflict reaps grim toll as sides talk peace | International |
Nuclear envoys haggle over North Korea draft rules | International |
Russia cancels 70 percent of debt to Cambodia
Muslims stone devil as accident-free haj nears end | International |
EU agrees renewable energy to provide a fifth of needs by 2020
Krygyz rights groups slams pressure on media
LG develops handset chip for fast downloads
Spying on Jews challenges Israel's secret service | International |
More mid—career professionals consider joining teaching force
Report: China automaker mulls buying Ford's Volvo
EU mission deploys in Kosovo amid tight security | International |
NKorea nuke talks focus on verifying past activity
NKorea nuke talks focus on verifying past activity
Chinese bank gets approval for 1st US branch
Electronics industry axes jobs, sees bleak Christmas | Technology |
Minister George Yeo attends first Bali Democracy Forum
Taiwan dollar weakens on rate cut expectations
Vodafone to buy Sweden's Wayfinder Systems | Technology |
NOL moves 12 pct less cargo in 4 weeks to Nov 14
HK stocks drop on profit-taking
Extortionists attack Philippine ships, wound 2
Indian stock market closed for holiday
Oil slips as markets question impact of output cut
300 Chinese activists sign public call for rights
Oil dips to near $43 as investors eye OPEC cuts
Japan's recession worse than thought: official data
Oil edges above $44 as investors eye OPEC cuts
Zucker says NBC may scale down programming hours
Oprah Winfrey says she weighs 200 pounds
Striking big with a "pop"
Patty Hou in deep bereavement
Eason Chen, Gary Chaw honoured at TVB Music Awards
Chabad to rebuild Mumbai Jewish Center
China: Ships near disputed islands were on patrol
Recruitment starts for S’pore GP volunteer race officials
Indian woman says she's a mother at 70
20 killed in bus fire in India
Parent companies of some MNCs to cut jobs; staff in S’pore may be affected
30 years after reform, China farmers once again hope for change
Police release names of Mumbai gunmen
Sony to cut 8,000 jobs amid global downturn
Singapore students top in science, beaten in math
Battle to form Thailand's next government heats up
Football: Singapore beat Indonesia 2—0, top Group A in AFF Suzuki Cup
Travel bookings to Bangkok fall to almost zero in last fortnight
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		BlogMeter 1.01