The Cabinet Office announced on the 15th that preliminary gross domestic product (GDP) figures for the April-June 2024 period showed that nominal GDP increased 1.8% from the previous period, and 7.4% on an annualized basis. The actual amount was 607.9 trillion yen, exceeding 600 trillion yen for the first time. The goal of a nominal GDP of over 600 trillion yen was set by then Prime Minister Abe Shinzo in 2015, and it took nine years to achieve. Japan’s nominal GDP exceeded 500 trillion yen in fiscal 1992, but it took 32 years for it to exceed 600 trillion yen due to the continued low growth following the collapse of the bubble economy. In addition, real GDP, excluding the effects of price fluctuations, increased 0.8% from the previous quarter, or 3.1% on an annualized basis. This is the first positive growth in two quarters. The positive growth was driven by the lifting of production and shipment suspensions at Daihatsu Motor and other companies, which had been a major negative factor in the previous period, and a recovery in new car sales. In terms of domestic demand, personal consumption increased by 1.0% from the previous quarter, marking the first increase in five quarters. This was largely due to the recovery in automobile sales. Additionally, capital investment increased by 0.9%. This is thought to be due to a recovery in commercial vehicles such as trucks, which are included in capital investment. In terms of external demand, exports increased by 1.4% compared to the previous quarter. The main factor was the recovery of automobile exports. Imports increased by 1.7%, with increases in business computers and other products.
>>1 Strong yen → Japanese manufacturers weakened, worst suicide rate, worst employment rate, trade deficit, Chinese and Korean manufacturers favored Weak yen → Japanese manufacturers revived, suicide rate improved, employment rate 99%, trade surplus, Japanese manufacturers strike back China, Korea and Pakistan “Oppose a weak yen!” ← Answer check ’.
>>4 If the Japanese people were really happy under the Democratic Party administration, they wouldn’t have stepped down. The reality is, the Democratic Party administration with its super high yen really caused companies to go bankrupt. As long as I’m alive, I’ll never let these bastards take power.
Poverty is getting worse and worse. The more preferential treatment is given to the wealthy, the greater the gap becomes. The larger the GDP becomes. It’s just like what I’ve seen in developing countries.
Personal consumption and real wages are both on the rise, so if things continue this way, a virtuous cycle with inflation will take hold. Though the stupid Bank of Japan might ruin it with an interest rate hike 😭.
>>23 The average financial assets held by a Japanese household are increasing from 13 million to 17 million. People who have become poor are in the minority.
>>23 Wealth comes from the top. If the stupid Bank of Japan hadn’t raised interest rates the Japanese economy would have gotten a lot better. The stupid Bank of Japan is a scumbag whose only thought is to make the Japanese economy worse. Shut down this shitty central bank.
Don’t get annoyed lol Chinese and Korean spies lol
[Sad news] China: “The yen is so weak that it’s almost the same price as Chinese products. “Everyone chooses Japanese products,” he complains, voicing his dissatisfaction with the weak yen.
>>35 It’s Abe’s achievement, but without Abe the economy wouldn’t have gotten this good Kishida is a lapdog of the Ministry of Finance and is against monetary easing.
These guys are idiots. Up until now, consumers have been able to hang on even when prices went up, but if ramen goes up to 3,000 yen, natto goes up to 300 yen, and bean sprouts go up to 150 yen, no one will be able to buy them and prices will plummet. It’s just a tug-of-war over when that will happen. If they keep raising prices indefinitely due to the weak yen, eventually we’ll have a Niagara recession, just like the stock market crash. There will be no sustainable growth unless they can make the yen weaker to 120 yen, even if it means raising interest rates.
The nominal value will go up. Prices are rising, so it will go up by that amount (price increase) The important thing is the real amount (excluding the impact of prices).
>>43 If the economy was self-contained within the country that would be fine, but since we are trading, we need to raise the price and keep causing inflation, otherwise the gap in economic power with other countries will continue to widen.
There is no doubt that the Kishida administration has brought about a boom in Japan’s economy, and it would be foolish for the Japanese people to reject this.
>>48 Abe was in the recovery period from the earthquake disaster Kishida was in the recovery period from the coronavirus pandemic It wasn’t due to personal ability lol.
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