TOKYO — The Japanese economy shrank at an annual rate of 1.8% in the first quarter of this year, slightly better thanSeasonally adjusted real gross domestic product, or GDP, a measure of the value of a nation’s products and services, remained in negative territory, as exports and consumption declined from the previous quarter.
Wage growth has been slow, and prices on imports have risen amid a decline in the Japanese yen against the U.S. dollar. The dollar is trading at nearly 157 yen lately, up from about 140 yen a year ago.. But it makes imports more expensive, a sore point for a nation that imports almost all its energy. Sluggish consumer spending has also been a drag on the economy. Private consumption accounts for half of Japanese economic activity.
Government officials raided the Tokyo headquarters of Honda Motor Co. Monday. Japanese media reports said a raid was coming soon on Mazda Motor Corp. Toyota and Suzuki Motor Corp. have already been raided.for the wide-ranging fraudulent testing involving the use of inadequate or outdated data in collision tests, incorrect testing of airbag inflation, rear-seat damage in crashes and engine power.
A political journalist known for critiquing the Trump administration says a member of former President Donald Trump’s own team caught him in a lie after his rambling post-verdict speech following his hush-money trial. In an episode of the Fire and Fury podcast, his inaugural podcast, Michael Wolff tells James Truman that the former commander-in-chief utilized his trial for entertainment purposes, adding that being inside the courthouse was “exciting quite dramatic.
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