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Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest economy.
Government data showed that the country’s capital expenditure only advanced 0.1% in the first quarter from a year ago. The figure came lower than the initial estimate of a 4.3% growth reported in June. More so, it indicated that the economy declined faster than what was initially recorded in the first quarter.
On a seasonally adjusted basis, capital expenditure increased 3.6% quarter-on-quarter, placing lower than the initial reading of a 6.7% jump. Japan’s economy recorded a 2.2% contraction in the first quarter and still on course for a much sharper economic downturn in the second quarter.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
KYC Policy