Pubblicato in: Banche Centrali, Devoluzione socialismo, Economia e Produzione Industriale

Giappone. Pil quarto trimestre (Q4) -7.1% anno su anno.

Giuseppe Sandro Mela.

2020-03-10.

2020-03-09__Giappone PIL yoy 001

«Revised data showed gross domestic product shrank faster than first thought in the October-December quarter, contracting at an annualized pace of 7.1 percent as a tax hike walloped consumption amid a global slowdown»

«The worse-than-expected data show that the economy was already in a highly fragile state when the virus started to slam exports, supply chains, tourists and shoppers»

«For the Bank of Japan, which has largely depleted its policy ammunition, options are limited»

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Giappone. Previsione Produzione Industriale a 2 mesi -6.9%.

Giappone. Ordinativi di macchinari -12.5% mom.

Giappone. Pil anno su anno crolla del -6.3%.

Giappone. Un vecchio ogni 1.8 giovani. Cina e Russia si leccano i baffi.

Giappone. Il grande malato dell’oriente. Export -6.3% anno su anno.

Giappone. Produzione Industriale -4.5% mom.

Giappone. Ordinativi di macchine utensili (Annuale) -35.5% a/a.

Giappone. Import -12.0% anno/anno. Quarto consecutivo.

Giappone. Export -5.2% yoy. Dodicesimo mese negativo.

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Il Giappone è il grande malato dell’Asia. È un paese di vecchi, quasi senza più gioventù.

La politica dei tassi di interesse azzerati priva ora la banca centrale della classica arma a disposizione di questa istituzione.

«The worse-than-expected data show that the economy was already in a highly fragile state»

«For the Bank of Japan, which has largely depleted its policy ammunition, options are limited»

Alla fine, tutti i problemi non risolti si presentano simultaneamente.

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Japan Times. Japan’s GDP contraction revised to 7.1%, fueling recession fears amid coronavirus crisis

Japan’s biggest contraction in more than five years adds to escalating concerns among policymakers about the length of a likely recession in the world’s third-largest economy as the impact of the coronavirus and a plunge in oil prices causes markets to slide and the yen to gain.

Revised data showed gross domestic product shrank faster than first thought in the October-December quarter, contracting at an annualized pace of 7.1 percent as a tax hike walloped consumption amid a global slowdown, and businesses cut capital spending at the fastest pace since the global financial crisis. The preliminary annualized figure was 6.3 percent.

The worse-than-expected data show that the economy was already in a highly fragile state when the virus started to slam exports, supply chains, tourists and shoppers. With sentiment among markets and consumers rapidly deteriorating, the prospect of a turnaround in corporate spending that could help support the economy this quarter seems remote, adding to pressure on policymakers to respond.

Prime Minister Shinzo Abe is expected Tuesday to detail new emergency measures, but it’s unclear what can be done to stoke growth amid an epidemic that’s keeping shoppers and workers home. The government has likely been reluctant to draft major stimulus measures so soon after the ¥13.2 trillion ($129 billion) package announced in December. But the longer the economy looks set to stay in reverse, the more likely Abe will have to respond.

For the Bank of Japan, which has largely depleted its policy ammunition, options are limited. BOJ Gov. Haruhiko Kuroda issued an emergency statement last week, trying to calm markets with a greater willingness to buy more assets. But with the yen strengthening to its highest in over three years, it may be forced to consider bigger action, even a deepening of its negative interest rate.