Sep 15, 2014

OECD cuts growth outlook for G-7, worried about eurozone

The OECD on Monday cut its economic outlook for the Group of Seven nations in 2014, including Japan, while expecting a moderate expansion to continue in most of the major economies. In its interim economic assessment report, the Paris-based organization also said the “most ...

Sep 11, 2014

BOJ adviser Kawai urges Abe to proceed with second tax hike

The Abe administration should proceed with the next consumption tax hike as planned to signal it is serious about reining in the world’s biggest debt burden, an adviser to Bank of Japan Gov. Haruhiko Kuroda said. Annualized growth of 2.5 percent or more this ...

Sep 9, 2014

Abe needs more stimulus to raise sales tax, adviser Itoh says

The administration should consider a supplementary budget this year and will need to add stimulus for the economy to weather the planned increase in the consumption tax in 2015, according to Motoshige Itoh, a member of an advisory panel to Prime Minister Shinzo Abe. ...

Sep 3, 2014

Japan rises to sixth in WEF competitiveness rankings

Japan rose to sixth from ninth in the World Economic Forum’s annual assessment of global competitiveness, the WEF said Wednesday. The ranking compares 144 nations. In its Global Competitiveness Report, the Geneva-based think tank praised the stability of the government of Prime Minister Shinzo ...

Jobless rate rises to 3.8% on July surge in job-seekers

Aug 29, 2014

Jobless rate rises to 3.8% on July surge in job-seekers

The unemployment rate rose to 3.8 percent in July from 3.7 percent in June as more people began looking for jobs to tap an apparent upturn in the economy, the government said Friday. The unemployment rate for women rose 0.2 point from June to ...

Aug 15, 2014

64% of small firms to issue pay hikes this year: METI

A Ministry of Economy, Trade and Industry survey revealed Friday that 64.5 percent of the nation’s small companies have decided to raise pay this fiscal year, up from 56.8 percent the previous year. “The virtuous cycle of the economy is having a wider impact,” ...

Aug 15, 2014

Worrying economic signs

The government must determine whether the slump in consumer spending during the April-June quarter is temporarily the result of the reaction to the three-percentage-point rise in the consumption tax, or reflects the Abe administration's policy failure.

April-June machinery orders plunge at fastest pace in five years

Aug 14, 2014

April-June machinery orders plunge at fastest pace in five years

Core private-sector machinery orders fell at the fastest pace in more than five years in the April-June quarter, the government said Thursday, underscoring corporate reluctance to boost investment after the April 1 consumption tax hike. The orders, which exclude those for ships and from ...

Megabanks' $800 billion cash pile shows Abe must free up credit

Aug 14, 2014

Megabanks' $800 billion cash pile shows Abe must free up credit

Prime Minister Shinzo Abe has succeeded in wrestling down the yen and snapping a 15-year deflationary spiral. The challenge of spurring lending by the country’s cash-hoarding megabanks remains. The nation’s three largest lenders increased their cash and deposits with other financial institutions 5.7 percent ...