20 May 2009

Japan Economy Suffers GDP Shrink

The economy of Japan has shrunk to record levels in the first quarter.

Japan's first quarterly results showed a drop in GDP which was much higher than those of the USA and the Eurozone. While the latter two had drops of around 2 percent each, while Japan's drop was over 15 per cent.

The PM of Japan has called for tough action to be taken in order to recover the suffering economy, and companies have already reacted by announcing more job cuts. Areas that drastically need assistance are exports, household spending and company output.

The Japanese yen will possibly take a blow thanks to lowering confidence of investors in the nation - look at foreign exchange market data to track its progress.

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