Business | May 17

Japan economy grows more than expected in Q1 after technical recession

TOKYO, May 17 (straitstimes.com) - Japan's economy expanded at a faster pace than expected in the first quarter as a further easing of pandemic regulations boosted consumption.

Gross domestic product (GDP) expanded at an annualised pace of 1.6 per cent in the first three months of 2023 for the strongest growth in three quarters, after a technical recession at the end of 2022 following a revision in earlier figures, Cabinet Office data showed on Wednesday.

Last quarter’s expansion exceeded analysts’ estimates of 0.8 per cent growth and was also supported by better-than-expected business spending.

Stronger wage growth and additional price relief measures by the government are supporting consumption.

But it remains to be seen if pay cheques can keep up with the pace of inflation that is so far proving stickier than expected. ...continue reading

Source: ANNnewsCH

MORE Business NEWS

Uniqlo Sells Second-Hand Clothes in Kyushu

Uniqlo, a leading clothing retailer, has announced the start of used clothing sales at its Tenjin store in Fukuoka City, a first for the brand in Kyushu.

Japanese Stock Splits Bolstering Market Values

With Japan's Nikkei hovering close to the 40,000 mark, market experts point out that the increasing trend of "stock splits" in recent years is supporting these higher stock prices.

Logistics Crisis 2024: Bus Tours and Strawberry Shipments Impacted

As Japan begins overtime regulations for drivers, popular bus tours are now being forced to reconsider their routes.

POPULAR NEWS

Police Bust Syndicate Pimping Japanese Women to U.S.

Four men have been arrested by Tokyo police for allegedly recruiting women for prostitution in the United States via a website, promising encounters with affluent clients and high earnings.

Japan Launches First New Whaling Boat in 73 Years

For the first time in 73 years, Japan has unveiled a newly constructed whaling mother ship, equipped with drone technology for whaling operations in the Antarctic Sea.

LDP Youth Chief Disciplined in Bikini Dancer Crackdown

The Liberal Democratic Party (LDP) in Nara Prefecture has disciplined its former Youth Division Chief following a controversial dance party incident.

Japan's Oldest Student Dorm Becomes Battleground

Residents of Japan's oldest student dormitory, self-managed for over 100 years, are digging in as Kyoto University attempts to evict them from the premises.

Cabin Crew Injured on Melbourne-Narita Flight

A Japan Airlines flight en route from Melbourne to Narita Airport encountered sudden severe turbulence on April 1, causing injuries to several cabin crew, including a broken leg.

FOLLOW US