Subscribe free to our newsletters via your
. Military Space 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 Space Media 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.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork 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
BAE Systems providing support for Army's Space and Missile Defense Command

Pentagon Asks for $9.6Bln to Counter Missile Threat From Iran, NKorea

China voices concern about US missile defence in S.Korea

US Missile Defense Agency spends $58M on new Alabama facility

POLITICAL ECONOMY
France tests new man-portable missile

Russian Strategic Missile Forces Begin Wide-Range Drills in 12 Regions

Russian Military to Fire Iskander Missiles During Pacific Ocean Drills

US Navy Spends $302Mln on Trident Nuclear Missiles

POLITICAL ECONOMY
GA-ASI tests sense-and-avoid radar on Predator UAV

IAI, Alpha Design Technologies in UAV deal for India

Alibaba deploys drones to deliver tea in China

Drone targets senior Shebab militant in Somalia: US

POLITICAL ECONOMY
Russia to Launch Two Military Satellites in February

Navy orders additional LCS mission modules

U.S. EA-18G Growlers getting new electronic warfare system

Third MUOS Satellite Launched And Responding To Commands

POLITICAL ECONOMY
Scout armored vehicles to feature Kongsberg remote weapons stations

Milestone C status for Lockheed Martin vehicle sensor system

Oshkosh makes bid for Humvee replacement

Israel Aerospace Industries touts new electro-optical payload

POLITICAL ECONOMY
Boeing Centralizes Defense, Space Development Efforts to Improve Performance

China to probe army spending in corruption crackdown: report

Iran Hopes to Receive Russian S-300 Air Defense Systems in 2015

Guidance kit improves accuracy of artillery rounds

POLITICAL ECONOMY
Ukraine rebels say no arms pull-back until 'full ceasefire'

A journalist's journalist - Arnaud de Borchgrave

'No question at the moment' of Ukraine pulling back heavy weapons

Poland to spend billions on defence amid rumblings of war in Europe

POLITICAL ECONOMY
Nanotechnology: Better measurements of single molecule circuits

New understanding of electron behavior at tips of carbon nanocones could help provide candidates

X-ray pulses uncover free nanoparticles for the first time in 3-D

A nanoscale solution to the big problem of overheating in microelectronic devices




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.