Sunday, November 23, 2014

Trouble Ahead

Capitalism is full of surprises just when it appeared that there was a partial world economic recovery along comes another Asian shocker.  'Japan's economy unexpectedly shrank for the second consecutive quarter, leaving the world's third largest economy in technical recession. Gross domestic product (GDP) fell at an annualised 1.6% from July to September, compared with forecasts of a 2.1% rise. That followed a revised 7.3% contraction in the second quarter, which was the biggest fall since the March 2011 earthquake and tsunami.' (BBC News, 17 November) Now economists are saying the weak economic data could delay a sales tax rise. RD

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