{"id":239,"date":"2008-08-13T14:27:28","date_gmt":"2008-08-13T14:27:28","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/?p=239"},"modified":"2008-08-13T14:27:28","modified_gmt":"2008-08-13T14:27:28","slug":"contraction-in-japanese-economy","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2008\/08\/13\/contraction-in-japanese-economy\/","title":{"rendered":"Contraction in Japanese economy"},"content":{"rendered":"<p class=\"first\"><strong><a href=\"http:\/\/www.the-finance-zone.co.uk\/wp-content\/uploads\/2008\/08\/japanshoppers.jpg\"><\/a>The Japanese economy contracted by 0.6% between April and June, prompting fears that it is sliding towards recession. <\/strong><\/p>\n<p>Declining exports and consumer demand were behind the fall &#8211; the first for more than a year &#8211; which came after a rise of 0.8% in the previous quarter.<\/p>\n<p>With consumer confidence at record lows, private consumption, which accounts for half of GDP, fell by 0.5%.<\/p>\n<p>Some economists believe the economy will contract in the next three months, partly due to the slowdown in the US. <!-- E SF --><\/p>\n<p>An economy is considered to be officially in recession after two consecutive quarters of negative growth.<\/p>\n<p><a href=\"http:\/\/www.the-finance-zone.co.uk\/wp-content\/uploads\/2008\/08\/japanshoppers.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-240 alignright\" style=\"float: right;\" title=\"japanshoppers\" src=\"http:\/\/www.the-finance-zone.co.uk\/wp-content\/uploads\/2008\/08\/japanshoppers.jpg\" alt=\"\" width=\"226\" height=\"170\" \/><\/a>&#8220;The data gives the impression that the economy has entered a recession and I think it is in recession,&#8221; said Takahide Kiuchi, chief economist at Nomura Securities.<\/p>\n<p>GDP, the total value of goods and services in the economy, shrank by 2.4% between April and June, compared with the same period in 2007.<\/p>\n<p>That is a significant change from the first quarter between January and March, when the economy grew by 4% compared with a year earlier.<\/p>\n<p>Figures released last month showed consumer confidence in Japan fell to its lowest level for 26 years in the quarter to June.<\/p>\n<p>As in many economies around the world, rising costs for energy and food have damaged confidence and made consumers reluctant to spend, particularly on more expensive durable goods.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Japanese economy contracted by 0.6% between April and June, prompting fears that it is sliding towards recession. Declining exports<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[12],"tags":[],"class_list":["post-239","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=239"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/239\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}