I can’t believe it’s August 1st already – time certainly flies when you are having fun!
As a change of pace from all the Japanese summer festival postings, a short blog post about Japan’s economy, which is currently the world’s #2 largest economy (although may not be for too long as China continues its growth).
Recently released June data highlights:
- 5.4% unemployment rate (highest in 6 years)
- 1.7% Y/Y decrease in consumer prices (deflation)
- 32.4% Y/Y decline in Japanese housing starts (seventh consecutive month of decline)
- 2.4% increase in industrial output compared to last month, but a 20% Y/Y decrease
- 0.1% interest rate set by the Bank of Japan
- Nikkei closed 10,356.83 on July 31, 2009 (new 10-month high)
- Exchange rate at 95 Yen = US$1
Finally, a general (national) election will be held on August 30, 2009. Now back to our regularly scheduled programming 🙂