Glad you could jn us on is etion of ewsline. s thursda february 14th. Im Catherine Kobayashi in tokyo. Japans Gross Domestic Product for the final quarter of 2012 shrank slightly in the october to december period. This is the Third Straight quarter of contraction. Gdp fell 1. 4 . The pace of decline was more moderate than the previous period when it was minus 3. 8 . Global demand was dragging down the economy. Capital spending went down Housing Investment showed growth of 3. 5 . Consumer spending was up due to strong sales of winter clotr. Overall p ros1. 9 for the previous year. Thats the first growth in two years. Investors have been tracking the data. Who has the upper hand . I would have said the buyers but its a mixed picture here in japan. The nikkei is trading slightly higher. 11,255. Up 0. 03 from wednesday ease close. Exports related stocks are getting a lift. Some expect the yen will stay on a declining trend for the time being. Others are selling recent gainers to lock in pr
Glad you could join us on this edition of newsline. Its thursday, february 14th. Im Catherine Kobayashi in tokyo. Japans Gross Domestic Product for the final quarter of 2012 shrank slightly in the october to december period. This is the Third Straight quarter of contraction. Gdp fell 1. 4 . The pace of decline was more moderate than the previous period when it was minus 3. 8 . Global demand was dragging down the economy. Capital spending went down Housing Investment showed growth of 3. 5 . Consumer spending was up due to strong sales of winter clother. Overall gdp rose 1. 9 for the previous year. Thats the first growth in two years. Investors have been tracking the data. Who has the upper hand . I would have said the buyers but its a mixed picture here in japan. The nikkei is trading slightly higher. 11,255. Up 0. 03 from wednesday ease close. Exports related stocks are getting a lift. Some expect the yen will stay on a declining trend for the time being. Others are selling recent gain
The previous three months. Thats a decline of 0. 4 in annual terms. This is due to weak global demand. Exports shrank 3. 7 . And Capital Spending at Companies Went down 2. 6 . Financial leaders in the u. S. Are facing their own set of challenges. President obama nominated his chief of staff to be his next treasury secretary. And now jack lew is outlining what he sees ahead for the economy. Ai uchida joins us now from the business desk. Ai, good morning. Good morning, catherine. Jack lew, he has to win over the democrats and the republicans before he can be treasury secretary. So hes asking lawmakers for bipartisan support on fiscal reform. He says this is needed to keep the u. S. Economy on the path to recovery. Lew spoke to senators on wednesday. Hes seeking their approval for his appointment to obamas secondterm cabinet. Lew said hes resolved to reduce the nations huge budget deficit. He asked both democrats and republicans to Work Together to avoid automatic spending cut march on de
Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document.
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