‘Unexpected drop in consumer spending’ partly to blame for Japan’s recession • FRANCE 24 English
Cross now to James Sims in Tokyo uh James Japan is now officially in a recession it seems very few people saw that coming why is that right I think uh There Was An Unexpected continued uh drop in consumer spending um for the last 10 10 months household spending has dropped and I
Believe it’s a third consecutive quarter that domestic consumption also dropped which also includes capex and is there anything that Japan is currently considering in a bid to improve its GDP right I mean they’ve been considering things for it seems like a couple decades just in terms of things
Like trying to raise productivity also um getting more women into the workforce because the population is shrinking and the workforce is shrinking and also trying to open up the country to more uh immigration uh not only for skilled workers but also for people that might be working in construction um and also
Services as well and so that’s been discussed for for quite a while but I think probably the the best thing would be to try to increase productivity and also to improve the um the base for entrepreneurs in order to get more companies to start because currently there are more companies that are
Closing down than are starting
An ‘unexpected continued drop in consumer spending’ in Japan is partially responsible for the economic recession there. Journalist James Simms speaks to FRANCE 24 from Tokyo.
#Japan #Asia #economy
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15 comments
I think there are other factors behind this, not just consumer spending. Also, this was all but inevitable, people shouldn’t be surprised by this.
When 3 different wars occurs at same time all money goes into contractors for ammunition destroying countries leaders can't negotiate common ground pride / ego in the way declare winner however all Losers at the end.
Maybe, just maybe because their fertility rate is not so high.
China 🇨🇳 has felt like in a recession over a year.
Even though the government reported a 2023 "growth of 5.2%." LOL
It's was GDP nominated based on dollars . Weak yen
If Japan hosts the whole population of roughly 1.4 million displaced Palestinians sheltering in Rafah, Japan can avoid recession.
G7 states should demand Japan to host Palestinians.
Yup, it’s the people’s fault. Blame the victims. Usual policy.
since its in exchange rate, it is due to cost of living have become cheaper, deflation can also be a good thing, japan's nominal to ppp ratio have gone down from 1 :1.2 to 1:1.5.
I wonder if South Korea is heading to the same direction
I'm shocked at how expensive things are, specifically food. Eggs went from ¥189 to ¥229. The laundry detergent I use was ¥199, now costs ¥285. These are insane increases. I wonder how families are surviving and why the Japanese aren't upset.
Japan hits a recession based on technical definition, but their stock market is at an all time high- Nikkei closes above 38,000 for first time since 1990. Usually in a recession, stock market goes down, NOT up. So, interpreting this as a recession is difficult. On paper, it is a recession, but I wonder what the average Japanese person is thinking and doing.
Japan politicians keep blaming others for their own incompetence and hallucinations. They said nobody spending but the relity is the government spent too much on unnecessary things massively. They spent too much under the orders of US master. US never cares of any allies collapse but its own gains.
Putting more women in the work force will not help their population.
How much do you expect the inflation to incease when JP Central Bank set rate at Zero? If any country set to zero, the inflation rate should be over 15%. No country in the world can duplicate this formula.
As a long term resident in Japan I’m not surprised that Japan has entered recession. You can really feel it in your daily life. Holding on your expenditure for shopping just to meet bills and food.
Some elderly are not even using electricity and are living in pitch dark lives at night as they can’t afford to pay electricity.
Many elderly are stealing food or snacks from supermarket which you can also see on YouTube if you look under “万引き which means shoplifting.