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Like a Good Neighbor | |||||||
Subject | International Finance | ||||||
Topic | Gross Domestic Product | ||||||
Key Words | Exports, Economic Growth, Unemployment | ||||||
News Story |
Gross domestic product figures for Japan are to be released shortly
and they are expected to show that the economy contracted in the quarter
ending December 2002. Japan's economy had experience three straight quarters
of weak growth starting with the beginning of 2002, prior to this expected
contraction. The primary reason for the economic turnaround is consumer
demand. Consumer confidence in Japan's long-term prospects is ebbing and
this is reflected in stagnation of consumer purchases. Amid the gloom
of record 5.5 percent unemployment and a 20-year low stock market, export
sales to Japan's Asian neighbors have strengthened and could possibly
revive Japan's economy.
(Updated April 3, 2003) |
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Source | Sebastian Moffett, "How Japan's Neighbors Give It a Lift," The Wall Street Journal, February 13, 2003. |
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