Report
2nd Quarter GDP, Consumption Worse than 1997
posted by Richard Katz on August 13, 2014
Found in Japan, categorized in Growth Outlook and Business Cycle
Report Cover
Headline
The consensus estimate for July-September prior to the release of the April-June numbers was that GDP would rebound at a 3-4% annual rate, and that this would be enough to let the second tax hike proceed on schedule.
Abstract
The fallbacks in consumption and GDP were both markedly worse this April-June than after the analogous tax hike in 1997.
About Richard Katz
Richard Katz is Senior Fellow at the Carnegie Council for Ethics In International Affairs, the New York correspondent for Weekly Toyo Keizai, a leading Japanese business magazine, and formerly the editor of The Oriental Economist Report, a monthly newsletter on Japan.
Mr. Katz has taught about Japan’s economy as an Adjunct Associate Professor at the New York University Stern School of Business, and as a Visiting Lecturer in Economics at the State University of New York (SUNY) at Stony Brook.
Mr. Katz is the author of two books on Japan's economic travails and has just finished a third book on reviving entrepreeurship in Japan.
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