Japan's economy shrank at 2.5 percent annualized rate in July-Sept period

Another triumph of the Great Abenomic Miracle.

It's artificial 3 biggest economy! Fudging the books maybe, but it's getting so bad that even this no longer works. The reliance on a shrinking population to spend more is not working. Raise the minimum wage, actually make enforceable laws to give people free time. Rather than legally increase the amount of overtime. Is it me, why are the government so focused on making life suck?

Is it me, why are the government so focused on making life suck?

Because them and (more importantly) Nippon Kaigi stand to greatly benefit form the slavery? There ought to be outrage in the streets but... TIJ.

Japan is just not ready to join the developed world yet.

So what?  Life in Tokyo feels just the same

That is a bit surprising and more than I thought than this number would be.

The data showed private demand and investment fell at a deeper pace than the initial estimate.

I am assuming the "private demand" is limited to internal demand and not overseas tourists to Japan. I think this is a trend that will gradually continue and if the tax rate goes to 10% will get much worse.

Could be a tough road ahead.

Another triumph of the Great Abenomic Miracle.

In fairness Japan is coming from a very low growth base which has plagued the country for a couple decades, and now has been caught up in the general global slowdown. If you head over to Trading Economics and take a few minutes to look at stats from major economies, they are all slowing down. China, U.S, Europe, even India which was firing quite well. Australia released its figure a few days ago and that was below 3%, a real shock to many here.

Japan is a victim of coming off a very low base and then getting whacked by global circumstances.

Perhaps a better question is how bad could it have been if Japan was doing nothing in terms of trying to raise the economy?

Still, does GDP growth matter for the average joe? meh. yes and no. Its certainly a pretty average quality of life indicator that fails to take into account huge aspects of day to day life

At least is doing better than the other 2 largest economy. Mayhem is happening over there and in Europe,Midden East and Africa. At least here it is stabilize unlike others countries this years where things are clearly going downhill. Life continue on. This year has been a nightmare for many countries and also for us. Also so much weather problems and natural disasters.

Of course it shrank!

Everyone is cutting back, Tax hike means, if you need to make a big purchase then you basically need to build up Cash right up to the big day, and make the transaction as close as possible to it ... so no spending between now and then. Oh, and throw in the odd Natural disaster to help push down growth... well you get your answer. Doesn't need a Trump to do that to us here. The Japanese Taxation system unfortunately reflects the Governments attitude towards to Technology - they could implement a fairer taxation system, but instead its a flat rate across everything from Condoms to Houses.... which essentially brings a new meaning of being screwed to the man in the street.

The Japanese debt is now bigger than GDP on an annualized basis-what could go wrong?

Has anybody else notice a step up in tactics by the local city halls to pull in any outstanding taxes? Japan is going broke. The middle class is slowly disappearing altogether and Japan will go back to what is was 200 years ago. Us (the bureaucrats) and them (the enslaved).

RecklessDec. 10 01:54 pm JST

Well we know what happens next... Devalue the yen and export more to the US..

There could be a lot of truth in this comment if the West ever took back all its manufacturing a large part of Asia would be unemployed or under employed.

Do the hustleDec. 11 08:09 pm JST

Has anybody else notice a step up in tactics by the local city halls to pull in any outstanding taxes? Japan is going broke. The middle class is slowly disappearing altogether and Japan will go back to what is was 200 years ago. Us (the bureaucrats) and them (the enslaved).

Agree - the Country is going further into debt for what purpose, there's all sorts of "roads to no where", government sponsored jobs that have no purpose you can see them every where in big cities.