Posted on 02/15/2009 8:27:01 PM PST by TigerLikesRooster
Japan's GDP slumps an annualized 12.7% on-quarter in Q4
By V. Phani Kumar
Last update: 7:27 p.m. EST Feb. 15, 2009
Comments: 121
HONG KONG (MarketWatch) -- Japan's economy slumped at a larger-than-expected 3.3% in the October-December period from the previous quarter as the impact of the global financial crisis hit its exports hard, according to data released Monday. The steep fall reportedly represents the biggest drop since 1974. On an annualized basis, the gross economic product slumped 12.7% during the quarter, data from the Cabinet Office showed,
(Excerpt) Read more at marketwatch.com ...
Ping!
They just need a stimulous bill....oh....never mind.
Wow. This is getting uglier than Helen Thomas.
If the US had better political leadership ten years ago, we would be in a position to come to the aid of allies like Japan. But the demagogues are in control, and they’ll bring the world to the brink of another world war before enough people come to their senses... if we’re lucky.
"THERE HAS NEVER BEEN DATA THIS BAD FOR ANY MAJOR ECONOMY – EVEN IN THE GREAT DEPRESSION. December industrial production came in down 9.6%, worse than the METI forecast. It is now down almost 21% year over year. METI forecasts a further 4.7% decline in February. The inventory to production ratio soared again. Maybe METI will be correct. "
"IT’S A DEPRESSION IN JAPAN – ALREADY – PURE AND SIMPLE. "
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