STOCK MARKET WATCH -- Monday, 8 September 2014

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15. The Japanese Economy Shrank Even More Than Thought In The Second Quarter

http://www.businessinsider.com/r-revised-data-show-japan-second-quarter-gdp-shrank-more-than-expected-2014-9

TOKYO (Reuters) - Japan's economy shrank an annualized 7.1 percent in April-June from the previous quarter, more than a preliminary estimate, underscoring concerns the hit from an April increase in the sales tax may have been bigger than expected.
The revised contraction was the biggest since January-March 2009, when the global financial crisis hit Japan's exports and factory output, keeping policymakers under pressure to expand fiscal and monetary stimulus should the economy fail to recover from the disruption of the April tax hike.

It was revised down from a preliminary 6.8 percent drop, according to Cabinet Office data released on Monday, and was more than the median market forecast for a 7.0 percent decline in a Reuters poll of economists.

On a quarter-to-quarter basis, the economy shrank 1.8 percent in the second quarter, compared with a preliminary reading of a 1.7 percent contraction.



Read more: http://www.businessinsider.com/r-revised-data-show-japan-second-quarter-gdp-shrank-more-than-expected-2014-9#ixzz3CicWhqjS