Japan's economy shrinks more than forecast
News On Japan via Bloomberg -- Feb 13
Japan's economy contracted more than economists forecast in the fourth quarter as exports slid on weakness in global demand and strength in the yen.
Gross domestic product shrank an annualized 2.3 percent in the three months ended Dec. 31, following a revised 7 percent expansion in the previous quarter, the Cabinet Office said today in Tokyo. The median forecast of 26 economists surveyed by Bloomberg News was for a 1.3 percent decline.
A pick-up in earthquake reconstruction work may aid a return to growth this quarter even as gains in the currency pare export earnings, worsening losses for companies such as Sony Corp. (6758) The Bank of Japan may refrain from additional easing tomorrow as officials assess a mixed global picture, from improved U.S. employment to weaker Chinese trade and Europe's progress in taming its debt crisis, according to a Bloomberg News survey of economists.
|| X Japan waxes lyrical at Madame Tussauds debut |
| || This Monday, members of the seminal metal band X Japan were in Odaiba rubbing shoulders with the likes of Brad Pitt, Lady Gaga and AKB48′s Yuko Oshima. The catch? They were all made out of wax. (Japan Times ) |
|| Senior Kyodo News official dismissed over improper act |
| || Kyodo News said Monday that it has dismissed Satoshi Kondo, 51, deputy chief of its general administration bureau and former personnel affairs division chief, for meeting individually with a female student searching for a job and doing an inappropriate act.
(Jiji Press ) |
|| Japan's child kidnapping problem |
| || Dozens of American children are abducted to Japan every year-not by strangers, but by parents after messy divorces. (thedailybeast.com ) |