Bad weather may have slashed economic growth in July-September

/ Oct 2, 2014

Bad weather may have slashed economic growth in July-September

Bad weather this summer, including successive typhoons, may have pushed economic growth down by 0.8 percentage point to 2.4 points in annualized real terms in the July-September quarter, the government said. The estimate, presented Wednesday by the Cabinet Office to a meeting of the Council ...

/ 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 ...

Apr 16, 2014

Big biz keen to skirt tax hike

The government has hired around 600 special investigators to prevent big businesses from passing the latest consumption tax increase on to their suppliers and contractors, but many small businesses are facing increasingly subtle billing and payment schemes from clients. In Tokyo's Ota Ward, home to ...

Stores looking to tourists for big sales

Mar 25, 2014

Stores looking to tourists for big sales

Many major department stores are zeroing in on foreign tourists and other visitors exempt from paying the consumption tax if they spend over a certain amount, anticipating that sales of luxury items will plunge following the sales tax hike next Tuesday. Department stores have enjoyed ...

/ Mar 18, 2014

Analysts split on fiscal crisis timeline

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Economists are split over how long the government has to rein in the world's biggest debt burden, a Bloomberg News survey shows, adding to a debate on whether the government should keep ratcheting up the sales tax. Eleven of 34 analysts said the government has ...

With 8% hurdle cleared, Aso eyes 10% sales tax

Oct 8, 2013

With 8% hurdle cleared, Aso eyes 10% sales tax

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Just a week after Prime Minister Shinzo Abe announced his intention to raise the 5 percent consumption tax to 8 percent next April, Finance Minister Taro Aso said he was upbeat about raising the levy further to 10 percent. Aso told reporters Tuesday the government ...