Report

Japan Back in Recession: Surprise GDP Drop

posted by Richard Katz on November 17, 2014

Found in Japan, categorized in Macro

Tags: Japan GDP Abe Abenomics

Report Cover

Headline

It’s too early to tell what this means for the outcome of the snap election Abe is expected to call. On the one hand, if the opposition were organized, they could exploit this as clear evidence of the hollowness of Abenomics as a recovery strategy.

Abstract

The big picture is that GDP in 2014, so far, remains worse than 1997. Not a single major forecaster predicted that GDP would drop in July-Sept. The consensus forecast was in the 2.2-2.5% range, depending on the survey.

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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