Japan s extended virus emergency to lead to $9.2 billion economic loss
May 8, 2021 (Mainichi Japan)
A man looks at an electric board showing Japan s Nikkei 225 index at a securities firm in Tokyo on May 7, 2021. (AP Photo/Hiro Komae) TOKYO (Kyodo) Japan s extended state of emergency over the coronavirus pandemic is estimated to lead to an economic loss of 1 trillion yen ($9.2 billion), dimming the prospect for a steady recovery toward the end of the year, according to an economist s forecast. The government s decision Friday to expand the areas for the emergency declaration and extend it by about three weeks will have a negative impact of 600 billion yen in addition to the initially estimated 400 billion yen, said Shunsuke Kobayashi, chief economist at Mizuho Securities.
Apr 23, 2021
Japan’s core consumer prices dipped just 0.1% in March from a year ago with the pace of decline slowing further, providing relief to the Bank of Japan (BOJ) as it battles to stem COVID-19 pandemic-induced price declines, government data showed Friday.
The nationwide core consumer price index, excluding volatile fresh food items, marked its eighth straight month of decline, dragged down by lower energy prices, according to the Internal Affairs and Communications Ministry. In February, the core CPI was down 0.4%.
The pace of decline slowed in March due partly to a rise in prices of household appliances such as air conditioners and air purifiers, as demand increased due to people spending more time at home during the pandemic.
Markets may see BOJ policy tweaks as signaling change down the road japantoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from japantoday.com Daily Mail and Mail on Sunday newspapers.
Japanâs 2020 exports fall 11%, largest drop in 11 yrs due to pandemic 21 January 2021 10:58 Share in:
TOKYO. KAZINFORM - Japan s exports in 2020 plunged 11.1 percent from the previous year, marking the largest fall in 11 years, as the new coronavirus pandemic battered global demand for industrial products such as cars, government data showed Thursday, Kyodo reports. Related news
The annual drop was the sharpest since a 33.1 percent dive logged in 2009 in the wake of the global financial crisis, according to a preliminary report by the Finance Ministry. Exports in 2020 stood at 68.41 trillion yen ($660 billion), the lowest level since 63.75 trillion yen in 2012.
By item, the country s car exports plummeted 20.0 percent from 2019, the biggest fall since a 51.3 percent tumble in 2009. Auto parts exports declined 19.1 percent.
Dec 22, 2020
Spending plans for fiscal 2021, approved Monday by the Cabinet, already set records, but they are also expected to balloon further with a series of supplementary budgets like those seen in the current fiscal year as the adverse impacts of the COVID-19 pandemic are almost certain to persist for some time.
Many private-sector economists have sounded the alarm over the erosion of Japan s fiscal discipline, taking the view that some of the economic measures drawn up by the government since the outbreak of the novel coronavirus were not urgent enough to warrant rolling out amid a sharp fall in tax revenue.