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Abe's move followed gross domestic product

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MessagePosté le: Jeu 27 Sep - 02:55 (2018)    Sujet du message: Abe's move followed gross domestic product Répondre en citant

TOKYO nike air force 270 shoes cheap , Nov. 25 (Xinhua) -- Japan's government kept a relatively upbeat view of the nation's economy Tuesday despite the data released last week confirming the world's third-largest economy had slipped into a technical recession due to the April 1 consumption tax hike.

The Cabinet Office reiterated its stance this month that the" Japanese economy is on a moderate recovery," while adding that weakness can be seen in private consumption.

The government maintained, however, that despite the slightly altered wording from a month earlier, the assessment was neither a downward nor upward revision nike sb dunks low ride life cheap , although the Cabinet Office noted that the 3-percentage point tax increase to 8 percent in April is still taking a toll on the economy, particularly on domestic demand and consumption.

The latest report was released after Prime Minister Shinzo Abe on Friday dissolved the lower house of parliament to call a snap election in a bid to garner support from the electorate for his unpopular and now delayed second sales tax hike to 10 percent from 8 percent.

Abe's move followed gross domestic product data for Japan last week surprisingly contracting an annualized real 1.6 percent in the three months through September, marking the second straight quarter of decrease following a revised 7.3 percent tumble in the April-June quarter.

Hence, the government's latest report showed that household spending, a leading gauge indicating personal consumption nike hyperadapt 1.0 olive flak cheap , dropped 5.6 percent on year in the recording period extending losses for a sixth straight month, but the report upwardly revised housing investment.

Housing construction showed signs of bottoming, the report said, with seasonally adjusted annualized housing starts standing at 880, 000 units in the recording period nike hyperadapt 1.0 habanaro red cheap , up from 845,000 a month earlier.

But the government lowered its assessment on job conditions for the first time in 24 months, stating "The employment situation shows a trend toward improvement, while an increase in job offers to seekers ratio appears to be pausing".

The ratio of job offers to seekers stood at 1.09 in September, down from 1.10 seen in August nike hyperadapt 1.0 mens cheap , July and June.

While noting that business investment "shows some weak movements recently, while it is on the increase," the office also noted that "exports are flat" and that "industrial production is decreasing recently".

The government stated in its recent report that corporate profits appeared to be "pausing as a whole" although improvements at large manufacturers had been observed.

The view of current business conditions showed a "small improvement in large manufacturers", the report said, adding nike hyperadapt 1.0 cheap , however, that caution remains overall and that "consumer prices are flat recently".

On the immediate outlook for the economy, the government said that weakness "will remain for the time being, but the economy is expected to recover, supported by the effects of the policies."

The Cabinet Office added that "attention should be given to the downside risks of the Japanese economy such as declining consumer sentiment and slowing down of overseas economies".

Going forward and regarding its policy positions nike react element 87 anthracite cheap , the Cabinet Office said that it will make its "utmost efforts to ensure the economy overcomes deflation and achieve economic revitalization and fiscal consolidation".

In addition, the report said the government "also continuously pursues to expand the economic virtuous cycles which cover local economies, through directing growing corporate profits towards business investment, wage increase and further improvement in the employment situation".

On additional stimulus measures, the Cabinet office said that the government "will develop a new economic stimulus package to ensure the economic virtuous cycles get on the right track and the fruits of Abenomics spread throughout local economies nike react element 87 light bone cheap ," adding that it "expects the Bank of Japan to achieve the price stability target of 2 percent at the earliest possible time".

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