business

Japan's economy grows 22.9% in 3rd quarter, bouncing back from COVID

19 Comments
By ELAINE KURTENBACH

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19 Comments
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Where can I buy one of those magical calculators? lol A down of 29.2 and then an up of 22.9 leads me to minus 13....but expansion and bouncing back from COVID sounds much better, of course.

21 ( +25 / -4 )

Good, but do you know the reason ?

Japan has a solid economic base, high consumer spending and many reliable trade partners.

-13 ( +3 / -16 )

down of 29.2 and then an up of 22.9 leads me to minus 13

Actually it is only minus 6.3. You are only out by 6.7

-17 ( +0 / -17 )

What's the basis for comparison? If it's not the same quarter last year, or previous years, it doesn't mean much because the bar's been lowered so far.

9 ( +10 / -1 )

Sven is correct. It's what is known as the "dead cat bounce". Drop a cat off high enough building and it will bounce up after hitting the pavement. Doesn't mean it's alive....

15 ( +19 / -4 )

Actually it is only minus 6.3. You are only out by 6.7

That's not how it works. It grows after the drop, so you don't base it on the same value but on a different one.

If you start with 100 and there is a drop of 29.2% you'll end up with 70.8. Only then do you add the 22.9% from the growth and 22.9% of 70.8 are not equal to 22.9% of 100. In fact you'll end up with roughly 87.01 after both steps, so Sven Asai is correct.

11 ( +14 / -3 )

Japan is always the best and no.1, after this nothing can beat Japan strong economy foundation.

-9 ( +2 / -11 )

 Japan is always the best and no.1

Apologies if you are being sarcastic. Let me quote from the article:

the world's third largest,

11 ( +14 / -3 )

Suganomics working already.

And the hard work of the younger generation doing hourly work for minimum wage.

5 ( +7 / -2 )

3rd largest if you don't call the EU as a trading block. 

Well, the Japanese austriche still has it's head firmly stuck in the sand. 

But I am sure the 2 million plus unemployed, and those hardly able to make ends meet, will be pleased to hear they are actually doing great. Sometimes they forget these things when they have no house, food or job.

14 ( +17 / -3 )

At the macro, temporary levels, it's possible to make key numbers look good. Firms can still maintain a profit by saving alongside massive lay-offs and operational downsizing. There are surely businesses and sectors who are ajusting well to and benefitting from the virus crisis. The state is responsible for smart redistribution.

7 ( +7 / -0 )

Economists said the upward revision released Tuesday was in line with forecasts and suggests Japan's economy, the world's third largest, is on the mend from the recession that started in late 2019, even before coronavirus outbreaks hit.

Wonderful forecast from 8-9 digit income out of touch economist. The economy has been on the mend since the bubble burst in the early 90s and since then income has dropped while cost has increased inproportionately , the number of part time and temp workers has grown to 40 percent of the work force with standard of living dropping to 3rd world level yet they want us to rejoice that the economy has grown,

9 ( +10 / -1 )

Good job Japan, just imagine the boom once a vaccine is readily available worldwide. I'm LONG Japan and Asia in general.

-13 ( +0 / -13 )

“Grows”? Nope.

8 ( +8 / -0 )

Call me jaded and cynical but after seeing how the Japanese government has been 'controlling' the covid testing numbers for months now to keep the 'appearance' that it's not a problem in Japan, these latest financial numbers leave me wondering just how 'massaged' they really are.

12 ( +13 / -1 )

US grew 33% for the quarter, europe 13%.

Still, only China has posted net positive growth

-7 ( +4 / -11 )

Yes, Peter, only for you: I omitted the percent sign, because I thought that would be clear as all values in the report are percentages. Now calculate again and see your comprehension error...lol Never mind.

1 ( +3 / -2 )

Newly printed money going to connected companies.

9 ( +9 / -0 )

There, I hopeJust 'quadralating' between:

1 — Schrödinger's cat, uh ... I mean Graham's,

2 — noriahojanen's 'macro, temporary' hedge,

3 — robert and drlucifer's view from ground zero, and

4 — Goodlucktoyou's reference to to monetary easing through printing fiat currency,

— I think the writing is on the wall.

-3 ( +0 / -3 )

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