, 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 world’s third biggest economy has struggled to motor on despite the recent lifting of Covid curbs, and has faced intensifying pressure from red-hot global inflation, sweeping interest rate increases worldwide and the Ukraine war. Gross domestic product fell an annualized 1.
Economy Minister Shigeyuki Goto said a global recession could hit households and businesses. At home, policymakers and citizens are bracing for a potential eighth wave of the Covid pandemic, adding to the gloom for private consumption which makes up more than half of the Japanese economy. In the third quarter, private consumption grew 0.3%, a touch above consensus estimate for 0.2% growth but slowing sharply from the second quarter’s 1.2% gain.
America is Not ALONE! Some One Else is Sinking Their Country ..? 🤗 Are We 2 Feel Better After This Most Important News ? Is This a Misery Love's Company Thing? Is Our Inflation Gone Useless News Is What This Is. Media Fear Mongering Again I Think... 🤨🐕🏜