Subscribe free to our newsletters via your
. Space Travel News .




POLITICAL ECONOMY
Japan household spending drops fastest in 8 years
by Staff Writers
Tokyo (AFP) Feb 17, 2015


Japanese household spending in 2014 declined at its fastest pace in eight years, official data showed Tuesday, underscoring the impact of the country's first sales tax hike in nearly two decades.

The figures come a day after the government said Japan's economy limped out of recession in the last quarter of 2014, with a weaker-than-expected 0.6 percent expansion between October and December.

But the world's number three economy posted zero growth over the full year, partly due to weak private spending which accounts for about 60 percent of Japan's gross domestic product.

Last year, the average household spent 251,481 yen ($2,115) each month, down 3.2 percent from the previous year and marking the first year-over-year decline since Japan's quake-tsunami accident in 2011.

The drop -- the biggest percentage fall since 2006 -- came "partly in response (to a sales tax hike) and the impact of bad weather in summer," the internal affairs ministry said.

In April, Tokyo raised sales taxes for the first time in 17 years as part of wider efforts to tame a massive national debt.

But hiking the levy to 8.0 percent from 5.0 percent slammed the brakes on consumer spending and helped to briefly push Japan into recession.

Analysts say wage hikes will be key to sustaining a recovery, a point echoed by Prime Minister Shinzo Abe's government, which has repeatedly called on Japanese companies to raise workers' pay so as to boost spending.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








POLITICAL ECONOMY
China January FDI jumps 29.4%: govt
Beijing (AFP) Feb 16, 2015
Foreign investment into China accelerated in January, government data showed Monday, with overseas firms pumping more cash into the country's services sector as the manufacturing industry slows. Inward investment rose 29.4 percent year-on-year to $13.9 billion, the biggest increase for four years, the commerce ministry said. It is also marginally up from December's $13.3 billion. However ... read more


POLITICAL ECONOMY
Soyuz Installed at Baikonur, Expected to Launch Wednesday

SpaceX launches deep-space weather observatory

SpaceX cargo craft returns to Earth

High seas force SpaceX to ditch bid to recycle rocket

POLITICAL ECONOMY
Scientists fail to explain strange plumes spotted on Martian surface

NASA's Curiosity Analyzing Sample of Martian Mountain

Mars Rover Nearing Marathon Achievement

NASA's Curiosity Analyzing Sample of Martian Mountain

POLITICAL ECONOMY
Application of laser microprobe technology to Apollo samples refines lunar impact history

NASA releases video of the far side of the Moon

US Issuing Licenses for Mineral Mining on Moon

LRO finds lunar hydrogen more abundant on Moon's pole-facing slopes

POLITICAL ECONOMY
The View from New Horizons: A Full Day on Pluto-Charon

New Horizons snaps new images of Pluto en route to historic flyby

Something Special in the Air

NASA craft set to beam home close-ups of Pluto

POLITICAL ECONOMY
Scientists predict earth-like planets around most stars

"Vulcan Planets" - Inside-Out Formation of Super-Earths

Dawn ahead!

Habitable Evaporated Cores

POLITICAL ECONOMY
China tests new carrier rocket's power system

ESA experimental spaceplane completes research flight

Eruptions Evicted: Anti-geyser Testing Completed for SLS Liquid Oxygen Tank

Europe tests space plane in step to strategic goal

POLITICAL ECONOMY
More Astronauts for China

China launches the FY-2 08 meteorological satellite successfully

China's Long March puts satellite in orbit on 200th launch

Countdown to China's new space programs begins

POLITICAL ECONOMY
Why Comets Are Like Deep Fried Ice Cream

Rosetta photos: Comet's material becoming more volatile as it nears sun

Number of Known Accessible Near-Earth Asteroids Doubles Since 2010

Dawn Gets Closer Views of Ceres




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.