Japan’s economy has struggled to motor on despite the recent lifting of COVID curbs, and has faced intensifying pressure from global inflation, sweeping interest rate increases worldwide and the Ukraine war
Japan’s economy unexpectedly shrank for the first time in a year in the third quarter, stoking further uncertainty about the outlook as global recession risks, a weak yen and higher import costs took a toll on household consumption and businesses.
“The contraction was a surprise,” said Takeshi Minami, chief economist at Norinchukin Research Institute. Highlighting concern about a resurgence of the pandemic, Japan will face new daily COVID-19 infections topping 100,000 on Tuesday for first time in two months, Fuji Television reported. In the third quarter, private consumption, which makes up more than half of the Japanese economy, grew 0.3 per cent, a touch above the consensus estimate for 0.2 per cent growth but slowing sharply from the second quarter’s 1.2 per cent gain.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Democrats call for independent review of government’s COVID-19 response - Terrace StandardHealth critic Don Davies wants to know how well feds did on early response, vaccine supply
Read more »
Antiviral pill Paxlovid reduces risk of long COVID: studyPaxlovid also reduced the risk of hospitalization or death following acute Covid\u002D19.
Read more »
Antiviral pill Paxlovid reduces risk of long COVID: StudyPaxlovid also reduced the risk of hospitalization or death following acute Covid\u002D19.
Read more »
Global COVID cases will increase in coming months, but at a slower pace: reportDaily global COVID-19 infections are projected to rise slowly to about 18.7 million by February from the current 16.7 million average daily cases, driven by the northern hemisphere's winter months, the University of Washington said in an analysis.
Read more »
As flu and COVID cases rise, stay healthy with these foods that help boost immunityLifestyle—diet in particular—directly affects the health of the immune system. Check out this list of foods high in key nutrients that play a major role in its proper functioning.
Read more »