News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
26
o
Bekaa
27
o
Keserwan
28
o
Metn
28
o
Mount Lebanon
25
o
North
29
o
South
27
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Nharkom Said
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
26
o
Bekaa
27
o
Keserwan
28
o
Metn
28
o
Mount Lebanon
25
o
North
29
o
South
27
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Germany becomes world's third-biggest economy as Japan slips into recession
World News
2024-02-15 | 02:59
High views
Share
Share
3
min
Germany becomes world's third-biggest economy as Japan slips into recession
Japan unexpectedly slipped into a recession at the end of last year, losing its title as the world's third-biggest economy to Germany and raising doubts about when the central bank would begin to exit its decade-long ultra-loose monetary policy.
Some analysts are warning of another contraction in the current quarter as weak demand in China, sluggish consumption and production halts at a unit of Toyota Motor Corp all point to a challenging path to an economic recovery and policymaking.
"What's particularly striking is the sluggishness in consumption and capital expenditure that are key pillars of domestic demand," said Yoshiki Shinke, senior executive economist at Dai-ichi Life Research Institute.
"The economy will continue to lack momentum for the time being with no key drivers of growth."
Japan's gross domestic product (GDP) fell an annualised 0.4 percent in the October-December period after a 3.3
percent
slump in the previous quarter, government data showed on Thursday, confounding market forecasts for a 1.4 percent increase.
Two consecutive quarters of contraction are typically considered the definition of a technical recession.
While many analysts still expect the Bank of Japan to phase out its massive monetary stimulus this year, the weak data may cast doubt on its forecast that rising wages will underpin consumption and keep inflation durably around its 2 percent target.
"Two consecutive declines in GDP and three consecutive declines in domestic demand are bad news, even if revisions may change the final numbers at the margin," said Stephan Angrick, senior economist at Moody's Analytics.
"This makes it harder for the central bank to justify a rate hike, let alone a series of hikes."
Economy minister Yoshitaka Shindo stressed the need to achieve solid wage growth to underpin consumption, which he described as "lacking momentum" due to rising prices.
"Our understanding is that the BOJ looks comprehensively at various data, including consumption, and risks to the economy in guiding monetary policy," he told a news conference after the data's release, when asked about the impact on BOJ policy.
The yen was steady after the data and last stood at 150.22 per dollar, pinned near a three-month low hit earlier in the week.
Yields on Japanese government bonds fell after the data as some traders pushed back bets of an early BOJ policy shift. The benchmark 10-year yield slid 4 basis points to 0.715 percent. The Nikkei (.N225), opens new tab stock average rallied to 34-year highs, with the data further underpinning recent reassurances from the BOJ that borrowing costs will stay low even after ending negative rates.
"Weak domestic demand makes it hard for the BOJ to pivot towards monetary tightening," said Naomi Muguruma, chief bond strategist at Mitsubishi UFJ Morgan Stanley Securities. "The hurdle for ending negative rates in March has risen."
Reuters
World News
Japan
Recession
Economy
Germany
Central Bank
Next
France far-right chief confirms election pact with right-wing party
Recommended For You
d-none hideMe
0
Lebanon News
01:00
US evacuates approximately 145 additional individuals from Lebanon
Lebanon News
01:00
US evacuates approximately 145 additional individuals from Lebanon
0
Lebanon News
2024-10-04
Britain charters flight to leave Lebanon on Sunday
Lebanon News
2024-10-04
Britain charters flight to leave Lebanon on Sunday
0
World News
2024-10-04
US military strikes 15 Houthi targets in Yemen
World News
2024-10-04
US military strikes 15 Houthi targets in Yemen
0
World News
2024-10-04
President Biden states Israel should seek 'other alternatives' to striking Iran oil sites
World News
2024-10-04
President Biden states Israel should seek 'other alternatives' to striking Iran oil sites
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Lebanon News
2024-10-02
Late-night Israeli airstrikes in Beirut lead to thick smoke and targeted strikes
Lebanon News
2024-10-02
Late-night Israeli airstrikes in Beirut lead to thick smoke and targeted strikes
0
Lebanon News
2024-10-02
Lebanese government issues its eighth report on humanitarian crisis amid Israeli aggression
Lebanon News
2024-10-02
Lebanese government issues its eighth report on humanitarian crisis amid Israeli aggression
0
Middle East News
2024-10-02
Rockets from Lebanon hit Galilee, damaging buildings
Middle East News
2024-10-02
Rockets from Lebanon hit Galilee, damaging buildings
0
World News
2024-07-15
Pakistan government will seek to ban party of ex-PM Khan
World News
2024-07-15
Pakistan government will seek to ban party of ex-PM Khan
Videos
d-none hideMe
0
Middle East News
2024-10-03
British ship Cordelia Moon targeted in Red Sea attack, Yemeni media reports (Video)
Middle East News
2024-10-03
British ship Cordelia Moon targeted in Red Sea attack, Yemeni media reports (Video)
0
Lebanon News
2024-10-03
Russia delivers humanitarian aid to Lebanon (Video)
Lebanon News
2024-10-03
Russia delivers humanitarian aid to Lebanon (Video)
0
Lebanon News
2024-10-02
Late-night Israeli airstrikes in Beirut lead to thick smoke and targeted strikes
Lebanon News
2024-10-02
Late-night Israeli airstrikes in Beirut lead to thick smoke and targeted strikes
0
Middle East News
2024-10-01
Yedioth Ahronoth: Over 102 rockets launched from Iran, sirens sound across Israel (Video)
Middle East News
2024-10-01
Yedioth Ahronoth: Over 102 rockets launched from Iran, sirens sound across Israel (Video)
0
Lebanon News
2024-10-01
Iranian plane arrives in Latakia with humanitarian aid for Lebanese citizens fleeing to Syria (Video)
Lebanon News
2024-10-01
Iranian plane arrives in Latakia with humanitarian aid for Lebanese citizens fleeing to Syria (Video)
0
Lebanon News
2024-09-29
Israel strikes apartment in a building in Cola area in Beirut
Lebanon News
2024-09-29
Israel strikes apartment in a building in Cola area in Beirut
0
Lebanon News
2024-09-28
Video shows aftermath of intense Israeli strikes in Beirut's southern suburbs
Lebanon News
2024-09-28
Video shows aftermath of intense Israeli strikes in Beirut's southern suburbs
0
Lebanon News
2024-09-26
Explosion heard in Beirut’s southern suburbs as Israeli airstrike hits (video)
Lebanon News
2024-09-26
Explosion heard in Beirut’s southern suburbs as Israeli airstrike hits (video)
0
Lebanon News
2024-09-25
Israel targets Ras Osta, Bechtelida in Byblos district; announces ground operation plans
Lebanon News
2024-09-25
Israel targets Ras Osta, Bechtelida in Byblos district; announces ground operation plans
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
13:40
Israeli strike on Nabi Younos in Jiyeh
Lebanon News
13:40
Israeli strike on Nabi Younos in Jiyeh
2
Lebanon News
15:58
Israel issues new evacuation order for Choueifat Amroussieh, Haret Hreik residents in Beirut’s southern suburbs
Lebanon News
15:58
Israel issues new evacuation order for Choueifat Amroussieh, Haret Hreik residents in Beirut’s southern suburbs
3
Lebanon News
15:44
Israeli army issues urgent evacuation warning for Borj El Brajneh residents in Beirut's southern suburbs
Lebanon News
15:44
Israeli army issues urgent evacuation warning for Borj El Brajneh residents in Beirut's southern suburbs
4
Lebanon News
18:12
Adraee warns residents of Borj El Brajneh, Laylaki, and Haret Hreik residents in Beirut's southern suburbs to immediate evacuate
Lebanon News
18:12
Adraee warns residents of Borj El Brajneh, Laylaki, and Haret Hreik residents in Beirut's southern suburbs to immediate evacuate
5
Lebanon News
18:55
Hezbollah: We launched a salvo of rockets at Israeli forces trying to evacuate dead soldiers from Manara settlement
Lebanon News
18:55
Hezbollah: We launched a salvo of rockets at Israeli forces trying to evacuate dead soldiers from Manara settlement
6
Lebanon News
16:18
Israeli strikes hit Beirut’s southern suburbs following Israeli army’s evacuation alert
Lebanon News
16:18
Israeli strikes hit Beirut’s southern suburbs following Israeli army’s evacuation alert
7
News Bulletin Reports
13:18
Inside Israel: Damage caused by Iran, Iraq, and Hezbollah amid field difficulties in South Lebanon
News Bulletin Reports
13:18
Inside Israel: Damage caused by Iran, Iraq, and Hezbollah amid field difficulties in South Lebanon
8
Lebanon News
08:48
Israeli Golani Brigade claims to uncover weapon depots and infrastructure in South Lebanon
Lebanon News
08:48
Israeli Golani Brigade claims to uncover weapon depots and infrastructure in South Lebanon
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More