Japan in recession

Japan is the first major economy to officially enter recession in 2012. Today its 3Q Final GDP came in at -3.5% annualized, prior was -3.5% so recession it is!

17 Responses to “ “Japan in recession”

  1. MJV says:

    It looks like the Asian Century is advancing apace.

  2. BotRot says:

    “Japan in recession”

    Again? Or, Still?

  3. overflow says:

    Australia will follow. Bring it on, it’s long past time for our own financial reset, and the painful recession that goes with it to teach the indebted some hard lessons.

  4. Janet says:

    “Liberal Democratic Party … has called for more fiscal stimulus and “unlimited” monetary easing…” I suppose if the horse is dead, they may as well keep floggin it…..

  5. Neznam says:

    Wonder if we will get individual states in recession but Australia still continuing to avoid a recession ?

    • Jack says:

      Last weeks figures showed that Tassy and Victoria are in recession.
      Only places that were positive was WA, NSW and ACT.

  6. thomickers says:

    someone once said that the Japanese economy is a bug in search of a windshield

  7. Rhett says:

    who started this whole 2 negative quarters rumour anyway?

    • thomickers says:

      yeah i know the formula is a bit strange… you could suffer some economic badluck (ie double faulting in tennis with 2 footfaults by 1 millimeter each)

  8. Explorer says:

    And no austerity in sight?

    http://www.tradingeconomics.com/japan/government-budget

    (You can change dates and go back to eg 1985 if you wish)

    • MJV says:

      I’m not sure that there’s ever been a country in a vice grip quite like Japan. Monstrously large public deficit and outstanding debt, an economy in recession with few options left on the table to grow, and a declining labour force. Yet all the while being (I believe) the world’s largest creditor nation. This in my view precludes an abrupt crisis of the kind that other countries have suffered, but I may be wrong. I do expect a slow withering that perhaps gathers pace if they are forced into a massive monetization project once domestic savings are exhausted.