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Japan's economy grows at 1.7% annual pace in Jan-March

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24 Comments
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Japan had negative growth before that for many quaters. So you can't say the economy grew.

-2 ( +4 / -6 )

I wonder why yen drastically goes down on those months?

1 ( +3 / -2 )

Business investment and spending on housing declined.

1.4% and 0.8% respectively. Foreign tourist lifted GDP by 0.1% !

1 ( +3 / -2 )

Of course:

"....... The Cabinet Office reported ...."

They reported so much and so much was corrected later on. Sorry, but I don't trust those figures.

2 ( +5 / -3 )

They are tweeking the numbers to put a positive spin on abenomics, but nobody is fooled. The proof is in the pudding. People are worse off today than when this PM took office.

2 ( +7 / -5 )

higher government outlays helped

public demand expanded by 2.6%

So, if the goal is a higher GDP number we should be thanking Masuzoe for all his spending. Who can spot what is wrong with logic?

2 ( +4 / -2 )

Other news sources mentioned the consumer spending as lacklustre as it was, was also helped a bit by an extra day figures included due to a leap year. geez...not much there to celebrate, is there Shinzo. When is that mysterious third arrow finally gonna be fired?

3 ( +6 / -3 )

The cabinet office reported. Lol! That's always a telltale sign of bull. Why do corps get in trouble when they lie but government just does it all the time and everyone just moves along.

3 ( +6 / -3 )

Marcelito, yes, considering leap year, the quarter had more than 1% of days .So economy should have improved at least 4% of the annual rate.

-1 ( +0 / -1 )

"marcelito"

There were so many 3rd arrows already ... which all have failed.

Maybe they should start a different numbering system like arrow 3A, arrow 3B, arrow 3C .... at least that gives them another 26 additional arrows.

3 ( +4 / -1 )

Despite the upbeat first quarter figures, recent weak data have raised expectations that Prime Minister Shinzo Abe may put off a planned sales tax increase due in April 2017 to prevent further disruptions, given the faltering progress toward a sustained recovery.

If Abe is truly interested in seeing the economy keep growing, cancel the consumption tax and watch tax revenues increase as consumer spending rises.

0 ( +1 / -1 )

cancel the consumption tax

Also the car weight tax and the annual tax on cars. And I don't even want to get started on these stupid ¥300,000. driving schools. Mine was free at high school.

-1 ( +3 / -4 )

So long as the government cancels equivalent amounts of spending, I'm OK with the consumption tax being cancelled too.

2 ( +2 / -0 )

"So long as the government cancels equivalent amounts of spending,"

What happens to the moeny the government spends? Keep in mind that nobody is incinerating cash. So the money doesnt disappear and so it's out there somewhere. But it's not in the public sector, since that sector is in deficit. Hmmm, so where's the equivalent surplus?

-3 ( +2 / -5 )

JeffLee, the phrase 'waste of money' means something. And if it is your money, don't you care?

2 ( +3 / -1 )

@fxgai

You didn't answer my question.

-3 ( +2 / -5 )

The existence of the phrase 'waste of money' indicates that your question misses the point, which also explains your subsequent comment.

2 ( +3 / -1 )

If the economy of Japan grows by 10% in 1 years its only because there're 10% more robots

-2 ( +1 / -3 )

YES JeffLee, fxgai, AND Yubaru in the same post? Let the JT elite flame war begin!

In all seriousness, who cares? No one is investing in Japan anyways, all domestic gibberish.

0 ( +2 / -2 )

"the phrase 'waste of money' means something"

What does it mean? As I pointed out, no one throws away or destroys money. So where does it end up? Once the govt issues yen to companies, workers, pensioners, organizations, etc, it sticks around. If you don't know the answer, then admit it.

Hint: if there's a big deficit in one area, then there must be equivalent surpluses somewhere else. Where are they?

In all seriousness, who cares?

Well, you obviously care. YOu've taken the time to write messages expressing your opinion after reading such articles a number of times. Does pretending otherwise make you feel superior or something?

-3 ( +1 / -4 )

JeffLee most literal person on JT - can fxgai or Yubaru please chime in to help me out ?

0 ( +1 / -1 )

Interesting the effect a record government spending budget can have on GDP numbers. Subtract this spending, and what would the figures look like?

I oppose the government adding it's spending to GDP figures because in nearly all cases, public spending creates a negative return, and such spending must be paid for by the government consuming more of what the private sector produces. Seen this way, government spending should be subtracted from GDP, and not added to it.

But at least Abe can say Japan is not in recession, even if private sector growth is probably -1.5%.

1 ( +2 / -1 )

JeffLee, there is no literal throwing away of money by government, but the term "waste of money" exists because - as I think we all know - not all money spent is spent in an effective, productive manner.

I have seen government spending result in 10 people standing around "directing traffic" at an otherwise virtually deserted intersection.

The larger the chunk of the economy that consists of people getting paid to do such unproductive things, the worse off the economy becomes. The economy would be better off if those people were put to work doing productive things, and the job of allocating workers to productive work around the country is not best performed by central planners.

0 ( +1 / -1 )

@fxgai

"but the term "waste of money" exists because...not all money spent is spent in an effective, productive manner."

Like salaries for doctors, nurses, school teachers and people who build our roads and rail networks? The useless scroungers!

"I have seen government spending result in 10 people standing around "directing traffic" at an otherwise virtually deserted intersection."

They would have been employees of a construction company and under its supervison, which is a private sector entity. The private sector IS indeed rife with waste, isn't it.

0 ( +0 / -0 )

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