'Growth turns out to be largely illusory' The Economist

[Taro Toporific]

Saying that Japan Inc is already back in the "Danger Zone" is like saying the the Hilton sister are sluts..
....except that defames the Hiltons.
Also the name "The Economist Intelligence Unit" seems like an invitation for jokes, doesn't it?

Japan economy: Lowering our forecast --EIU ViewsWire
The Economist, 15 Dec 2004
The Economist Intelligence Unit has revised its GDP growth and currency forecast for Japan and downgraded sharply its estimate of this year's economic performance....
...Worryingly, the newly revised GDP data also suggest that private consumption has faltered as export-oriented firms have started adjusting to the weakness in global markets....(Read the article)

[Buraku]

sounds bad, there are many postings on the web about Koizumi and the Fked economy

http://news.bbc.co.uk/1/hi/business/1453083.stm
http://forum.japantoday.com/Japan_steal ... 000/tm.htm
http://www.wsws.org/articles/2002/apr2002/japa-a24.shtml
http://economist.com/finance/displayStory.cfm?story_id=3360442&tranMode=none
http://archives.cnn.com/2001/BUSINESS/asia/06/11/japan.recession/
http://www.brookings.edu/views/op-ed/lincoln/20000119.htm
http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_pesek&sid=a41nr.2trbyo
http://www.fuckedgaijin.com/forums/showthread.php?p=74044#post74044

[Skankster]

Yeah this is all over the net these days

Asian Stocks: Japan's Honda Drops;
Dec. 16 (Bloomberg) -- Japanese stocks fell after the dollar slumped against the yen and oil prices surged, renewing concern that slowing U.S. demand and higher fuel costs will dent economic growth. Exporters such as Honda Motor Co. declined.

Stock benchmarks also dropped after Japan's ruling coalition agreed to end income and residential tax breaks in the next two years, reducing the amount consumers have to spend.

``We're looking for any signs of economic vitality, but we're not seeing any yet and that's weighing on stocks,'' said Katsuaki Furutachi, who oversees the equivalent of $3.8 billion in equities at Asahi Life Asset Management Co. in Tokyo. ``The biggest risk next year is the prospect of higher tax rates.''

The Nikkei 225 Stock Average lost 0.3 percent to 10,924.37 at the 3 p.m. close in Tokyo. The Topix index slid 0.1 percent.

Elsewhere in the region, oil explorers and producers such as Inpex Corp. and SK Corp. advanced on optimism their earnings will be boosted.

Chartered Semiconductor Manufacturing Ltd. tumbled, pushing down Singapore's Straits Times Index, on concern the government will say tomorrow that exports probably fell last month.

Morgan Stanley Capital International's Asia-Pacific Index, which tracks more than 900 stocks, added 0.1 percent to 96.50, extending a three-day gain of 3.1 percent. All other benchmarks in the region rose, except for those in China and Hong Kong.

Japan

Honda, which gets as much as 90 percent of its operating profit from North America, lost 1 percent to 5,230 yen. Tokyo Electron Ltd., the world's second-largest manufacturer of chip- making equipment, slid 1.8 percent to 5,900 yen

The dollar slid 1.3 percent to 103.98 yen yesterday, the lowest since Dec. 9, and recently traded at 104.35 yen. A U.S. Treasury Department report that showed purchases of securities in the U.S. increased in October at the slowest pace in a year helped push the dollar lower.

A gain of 1 yen against the dollar will cut profits at 89 companies surveyed by the Ministry of Economy, Trade and Industry by an average 1.1 percent this fiscal year, a report released last week showed.

``The fact that the U.S. isn't attracting enough investment is itself cause for concern, along with the dollar's weakness,'' said Norihiro Fujito, a senior strategist at Mitsubishi Securities Co. in Tokyo.

Higher Taxes

Japan's ruling coalition, led by the Liberal Democratic Party, said yesterday it agreed on a plan to end income and residential tax breaks in the two years starting 2006, a move that may result in tax burden of about 1.7 trillion yen ($16.3 billion).

Separately, a NHK report said the government will probably lower its assessment of the economy for the second month. The Cabinet Office is scheduled to release its economic assessment on Dec. 20.

Crude oil for January delivery gained 5.7 percent to $44.19 a barrel, the biggest increase since June 1, on the New York Mercantile Exchange after the U.S. government reported a drop in heating-oil inventories and below-normal temperatures this week boosted demand. The contract rose as much as 0.8 percent in Asian trading.

The MSCI Asia-Pacific Energy Index was the second-best performer among the 10 industry groups that make the regional index, rising 0.5 percent.

Inpex, Japan's biggest oil explorer, advanced 3.3 percent to 509,000 yen. The company last month reported an 85 percent surge in fiscal first-half profit as higher crude oil prices boosted earnings from oil production.

My only hope is that this doesnt hit my micro-economy.

[Ketou]

'Growth turns out to be largely illusory'

Well I'll be buggered! Who would've ever guessed that?