Jul 22, 2014

Fiscal '14 growth forecast cut to 1.2%

The government on Tuesday cut its forecast for economic growth in fiscal 2014 to 1.2 percent from 1.4 percent in real terms amid lingering fears that the April 1 consumption tax hike — the first in 17 years — may continue to weigh on ...

Jul 11, 2014

Third-quarter growth may pave way for second stage of tax hike

The economy is likely to grow between July and September at a pace consistent with plans to complete the doubling of the consumption tax to 10 percent in October 2015, a government-affiliated nonprofit group said in a survey. The Japan Center for Economic Research ...

Jun 9, 2014

EU eyes using vice to boost economies

European governments are turning their attention to prostitution, drugs and contraband as possible ways of boosting their economic growth profiles, as they struggle away from their debt crises. Italy caused a stir when it announced last month that it would begin including revenues from ...

Jun 9, 2014

GDP up sharply in first quarter, toward 7% annual rate

Japan’s economy grew an annualized 6.7 percent in the first quarter of 2014 when adjusted for inflation, more than reported earlier because of an upwards revision in corporate capital spending, the government said Monday. Gross domestic product, the total value of goods and services ...

May 30, 2014

U.K. to count prostitution, drugs when measuring GDP

Sex please — we’re British. Britain’s Office of National Statistics said prostitution and the import, manufacture and consumption of illegal drugs will be counted when making the government’s quarterly calculations of gross domestic product. The statistics agency said Friday some of these activities are ...

May 22, 2014

Risks for the economy

Japan's gross domestic product for January-March increases by a higher-than-expected 1.5 percent from the previous quarter, driven partly by last-minute purchases by consumers ahead of the three-percentage-point hike in the consumption tax April 1.

Global economic recovery marred by inconsistencies

May 16, 2014

Global economic recovery marred by inconsistencies

The global economy is plodding ahead in fits and starts as the largest countries struggle to achieve consistent growth. Europe is faltering again. Japan is suddenly surging. China is cooling. The U.S. is strengthening. In the background, central banks are aiming to administer just ...

Apr 24, 2014

Biz tax cut would lift GDP: METI

Japan’s gross domestic product would likely grow by at least ¥7 trillion if the effective corporate tax rate were to fall by about 10 points from the current level of around 35 percent, the industry ministry said in a recent survey. The estimate comes ...