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BUSINESS
November 12, 2012 | By David Pierson
BEIJING -- Japan's economy shrank in the third quarter, raising the specter of a recession in the world's third-largest economy and tempering hopes of a global recovery. The Japanese government said Monday its gross domestic product contracted 3.5% on an annualized basis between July and September, the worst drop in growth since the country was battered by an earthquake and tsunami in March 2011. Japan's export-dominated economy has been severely distressed by weakened demand from Europe and China, where a territorial dispute over a group of uninhabited islands in the East China Sea sparked a massive Chinese boycott of Japanese goods.
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BUSINESS
September 2, 2013 | By Don Lee
TOKYO - After two decades of economic stagnation, once-mighty Japan is beginning to revive - under policies that some experts say could offer lessons to the still-struggling economies of the United States and Europe. While the Eurozone tries to break out of recession and the U.S. economic recovery remains anemic, Japan has begun to grow at an encouraging rate. The shock-therapy policies of Prime Minister Shinzo Abe have helped Japan's economy expand for three straight quarters at a pace faster than that of the United States.
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BUSINESS
February 18, 2006 | From Reuters
Japan's economy grew at an unexpectedly strong 5.5% annual rate in the fourth quarter of 2005, its fourth straight quarter of expansion, as a pick-up in exports added to booming domestic demand and raised hopes for a sustained recovery, data showed Friday. The strong reading bolstered expectations that the Bank of Japan would end its five-year ultra-easy monetary policy around April, which could pave the way for higher interest rates later in the year.
BUSINESS
April 5, 2013 | Ricardo Lopez
Japan's central bank took a massive bet to reset its economy and pull out of nearly two decades of deflation. The Bank of Japan announced an aggressive and ambitious plan Thursday to expand its purchase of long-term bonds and double the amount of money in circulation, all in an effort to boost inflation to 2% within two years and stimulate consumer and business spending. The move stoked the Japanese stock market, which gained 2.2% on Thursday and continued rising early Friday, and sent the yen plunging against the dollar.
BUSINESS
September 21, 1988 | Times Wire Services
Japan's economy shrank in the second quarter of 1988, marking the first decline in two years, but analysts welcomed the news, saying a slowdown was necessary to ensure longer-term health. Japan's Economic Planning Agency reported Tuesday that its gross national product, adjusted for inflation and seasonal factors, contracted 1% after an exceptional 2.7% climb in the January-March quarter.
BUSINESS
September 23, 1992 | From Bloomberg Business News
A trio of major economic indicators in Japan on Tuesday underscored the serious troubles of the nation's economy. The nation's gross national product increased by a meager 0.3% in the second quarter, while household spending was flat and vehicle production suffered its steepest decline since 1974.
BUSINESS
December 8, 1988 | SAM JAMESON, Times Staff Writer
Tsutomu Murai is a banker by profession and a specialist in rescuing ailing companies. As a result, three of his last four jobs have been with an auto manufacturer, a brewery company and a railroad. "Defeat in the war destroyed everything," Murai said in a recent interview. "Both banks and companies were stripped naked. They had to rescue each other to grow together. It was unavoidable that good communications between banks and corporations developed."
BUSINESS
February 2, 1997 | DAVID HOLLEY, TIMES STAFF WRITER
Fumiko Osawa, owner of a small Yokohama shop that sells packaged tea, feels almost hopeless about the future of Japan's economy. Stocks have plunged 15% in the last two months, land prices are less than half their late-1980s values and the population is rapidly aging. Osawa fears that Japan is headed for "depression." "I think the only ones who make money will be doctors and those who sell graveyards or run nursing homes," Osawa said. "We can't expect a glorious future."
NEWS
July 27, 1998 | ROBIN WRIGHT, TIMES STAFF WRITER
Prime Minister-designate Keizo Obuchi of Japan promised U.S. officials Sunday that he would do "whatever it takes" to revitalize his nation's economy and help to reverse Asia's yearlong financial crisis. Meeting with Secretary of State Madeleine Albright here at a gathering of foreign ministers from Southeast Asia and other nations, Obuchi said he is committed to following through on a $42.
BUSINESS
December 1, 1989 | From Times Wire Services
Outgoing central bank chief Satoshi Sumita predicted today Japan's economic expansion, which has entered its fourth year, will continue to be fueled by brisk personal consumption and corporate investment. "The fundamentals of the Japanese economy remain unchanged amid brisk capital investment and robust personal consumption," Sumita told the Japan National Press Club.
BUSINESS
November 13, 2012 | By David Pierson and Don Lee, Los Angeles Times
Already hurt by troubles in Europe and significant slowdowns in China and India, the U.S. and the global recoveries got another dose of bad news: Japan's long-sluggish economy is threatening to slide back into recession. The world's third-largest economy shrank 3.5% at an annualized rate in the third quarter - the worst drop in gross domestic product since the country was battered by an earthquake and tsunami in March 2011. The unexpectedly grim report Monday out of Tokyo prompted analysts to scale back Japan's growth forecasts for the near term.
BUSINESS
November 12, 2012 | By David Pierson
BEIJING -- Japan's economy shrank in the third quarter, raising the specter of a recession in the world's third-largest economy and tempering hopes of a global recovery. The Japanese government said Monday its gross domestic product contracted 3.5% on an annualized basis between July and September, the worst drop in growth since the country was battered by an earthquake and tsunami in March 2011. Japan's export-dominated economy has been severely distressed by weakened demand from Europe and China, where a territorial dispute over a group of uninhabited islands in the East China Sea sparked a massive Chinese boycott of Japanese goods.
BUSINESS
February 21, 2012 | By Jim Puzzanghera, Los Angeles Times
Europe's debt crisis caused economic growth to slow dramatically in the world's developed nations in the last three months of 2011, the Organization for Economic Cooperation and Development said. Overall growth in the 34 economies that make up the OECD was just 0.1% in the fourth quarter, a big drop from the already tepid 0.6% in the previous quarter, the group said in its quarterly report Monday. The European Union was the big culprit, with the economy there contracting 0.3% in the fourth quarter, the first contraction since the second quarter of 2009.
BUSINESS
March 14, 2011
Concerns over the economic impact of the massive earthquake and tsunami in Japan, the world's third-largest economy, led to a broad sell-off in the stock market on Monday. Nine out of the 10 sectors that make up the Standard and Poor's 500 index lost ground. Utilities companies fell 1.4 percent, the most of any group, as explosions at Japanese nuclear reactors in the wake of the disaster dimmed prospects for the nuclear energy industry. The S&P index, the basis for most U.S. mutual funds, fell 7.89 points, or 0.6 percent, to 1,296.
OPINION
September 1, 2009
How do you say "throw the bums out" in Japanese? That's what Japanese voters did on Sunday, booting the Liberal Democratic Party that has ruled almost continuously for more than half a century and leaves now with the world's second-largest economy in sorry shape. The newly elected Democratic Party of Japan is an eclectic mix of leftists and defectors from the ruling party. Its ability to run the country is untested, and its leaders have yet to explain how to pay for their populist campaign promises.
BUSINESS
August 18, 2007 | Don Lee, Times Staff Writer
shanghai -- Judging by the plunges in Asian stock markets this week, you might think lenders in this part of the world were sitting on a pile of Made-in-America sub-prime debt. Their direct exposure to the mortgage woes in the U.S. looks small, though, and many banks in the region, even those lumbering Japanese ones, are better capitalized and more fit today than they have been in a long time. Yet that didn't matter much to stock traders.
CALIFORNIA | LOCAL
July 23, 1998
Having lived in Japan (a small, mountainous island nation, densely populated, with scarce usable land) for almost 20 years, I have been following closely recent developments in the Japanese economy and politics. I do have one question regarding the idea--forwarded by Japanese and Western experts--to construct larger homes in Japan in order to jump-start its economy ("Japan Faces Tough Choices to Turn Economy Around," July 15): Where in Japan will these houses be built? MARGARET CARMINE Santa Monica
BUSINESS
March 8, 2002 | Associated Press
Japan's hobbled economy sank deeper into recession, shrinking 1.2% during the three months ending in December, the third consecutive quarter of contraction, the government said. Last quarter, which ended in September, Japan slid into its third recession in a decade--sinking 0.5% or an annual rate of 2.1%. Recession is generally defined as two consecutive quarters of contraction. The contraction for the latest quarter translates to an annual 4.5% contraction.
BUSINESS
February 18, 2006 | From Reuters
Japan's economy grew at an unexpectedly strong 5.5% annual rate in the fourth quarter of 2005, its fourth straight quarter of expansion, as a pick-up in exports added to booming domestic demand and raised hopes for a sustained recovery, data showed Friday. The strong reading bolstered expectations that the Bank of Japan would end its five-year ultra-easy monetary policy around April, which could pave the way for higher interest rates later in the year.
BUSINESS
August 9, 2004 | From Bloomberg News
Japan's economy probably grew for a ninth consecutive quarter in the three months that ended June 30 in the longest expansion since 1997, as consumer spending, business investment and exports all increased. The world's second-largest economy grew at an annual 4.2% pace in the period, according to the median forecast of 26 economists in a Bloomberg News survey. The official growth report will be released by the Cabinet Office on Friday in Tokyo.
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