Economy

Government must ease jitters amid unexpected economic weakness

TOKYO -- The Japanese economy's weaker-than-expected performance after the April consumption tax hike has created uncertainty about the government's next moves. It is essential for the government to share its views with the public and prevent unexpec...

  • Japan's average monthly wage rises by over 2% for 1st time in decade

    TOKYO (Kyodo) -- Average monthly pay for workers in Japan, including bonuses, rose 2.6 percent in July from a year earlier to 369,846 yen, marking a rise of 2 percent or more for the first time in a decade, the labor ministry said Tuesday. Bonus...

  • Japan's real GDP up 0.7% in July: JCER

    TOKYO -- Japan's real gross domestic product rose 0.7% on the month in July, marking a third straight month of growth, according to estimates released Monday by the Japan Center for Economic Research. Consumer spending edged down 0.3% and housing...

  • BOJ's international conference should be more open, like Jackson Hole

    TOKYO -- In August every year, the annual Jackson Hole Economic Policy Symposium, held in Jackson Hole, in the U.S. state of Wyoming, attracts the attention of the global financial markets. The symposium is attended by central bankers of major countr...

  • Update: Japan's April-June business investment up 3.0% despite tax hike

    TOKYO (Kyodo) -- Capital spending by Japanese companies rose 3.0 percent from a year earlier in the April-June period, despite a bearish economic outlook following the first consumption tax hike in 17 years, the government said Monday. Business i...

  • Japan's April-June business investment up 3.0% despite tax hike

    TOKYO (Kyodo) -- Capital spending by Japanese companies rose 3.0 percent from a year earlier in the April-June period, suggesting the first consumption tax hike in 17 years did not significantly affect corporate investment, the government said Monday...

  • Japan April-June business investment up 3.0% on year

    TOKYO (Kyodo) -- Capital spending by Japanese firms rose 3.0 percent from a year earlier in the April-June period, the government said Monday. Business investment by all nonfinancial sectors for purposes such as building plants and introducing ne...

  • Myanmar's population 10M less than estimated

    YANGON (Kyodo) -- Myanmar's population is roughly 10 million less than previously estimated, at around 51.41 million, according to preliminary data from a census conducted earlier this year. The Central Census Commission released the figure in a ...

  • Japan to lower corporate loss carryforwards

    TOKYO -- To help scrape up money to finance corporate tax cuts, the government plans to further limit companies' ability to lower their taxes by carrying forward past losses to offset income. Existing rules restrict large corporations' use of los...

  • Bad weather crimping Japan's economic recovery

    TOKYO -- The typhoons and downpours that battered cities across Japan in July have also cast a pall over consumer sentiment, threatening to derail an economy beginning to emerge from the decline caused by the April consumption tax hike. Household...

  • Indian economy grows 5.7% on hopes for new government

    MUMBAI -- India's real gross domestic product grew 5.7% on the year in the April-June quarter, reflecting the surge in consumption and investment brought on by the inauguration of Prime Minister Narendra Modi. Growth beat the 5% mark for the firs...

  • Thailand tries to counter political damage to tourism

    BANGKOK -- In a bid to boost slumping tourism, Thai immigration authorities announced on Thursday 30-day in-country visa extensions for visitors from 49 countries, including the U.S., Japan and Hong Kong, which combined account for about half of the ...

  • Sinkholes in Seoul keep nation focused on safety-efficiency equation

    SEOUL -- A series of road collapses in South Korea this summer has raised further questions about safety in a country still reeling from the deadly Sewol ferry disaster in April. Some say the nation's economic development rush came at the price of pr...

  • Japan inflation on track as tax hike weakens household spending

    TOKYO (Kyodo) -- Japan's consumer prices rose 3.3 percent in July from a year earlier, keeping the pace of inflation in line with projections by the Bank of Japan, while household spending slowed further due to the effects of the consumption tax hike...

  • Japanese Foreign Ministry seeks 10% increase in FY 2015 budget

    TOKYO (Kyodo) -- The Foreign Ministry on Friday requested 738 billion yen in its budget for the fiscal year from next April, up 10.8 percent from the initial budget for the current year, to strengthen efforts to disseminate information overseas about...

  • Japan's industrial output up 0.2% in July

    TOKYO (Kyodo) -- Japan's industrial production rose a weaker-than-expected 0.2 percent in seasonally adjusted terms in July from the previous month, the government said Friday, signaling that companies are still struggling with slower demand followi...

  • Japan's jobless rate worsens to 3.8% in July

    TOKYO (Kyodo) -- Japan's unemployment rate worsened to 3.8 percent in July from 3.7 percent the previous month, marking the second straight month of increase, as more people began looking for jobs following economic recovery earlier this year, the go...

  • Economic growth slowing in Southeast Asia

    MANILA -- Southeast Asian economies, which have been enjoying growth rates around 7%, are starting to lose steam as the rest of the world continues to slump and rising prices discourage spending. The Philippines saw real gross domestic product gr...

  • U.S. growth revised upward to 4.2% in 2nd qtr on robust investment

    WASHINGTON (Kyodo) -- The U.S. economy expanded an annualized real 4.2 percent in the second quarter of 2014, revised upward from an earlier estimate of 4.0 percent, due mainly to robust corporate investment, the Commerce Department said Thursday.

  • Still-struggling China seen opting for additional easing

    HONG KONG -- As gloomy economic data continues to cast shadows over the money market, China is approaching a crossroads in its monetary policy. Beijing's repeated "mini-stimulus" measures have helped keep the economy chugging along so far, but it may...