Wednesday, 13 March 2013

Japan shows weak recovery, UK heading back towards recession

Japan's recession may have ended at the end of last year but its recovery remains weak.

On Monday, a report showed that core machinery orders plunged 13.1 percent in January. On Tuesday, a report showed that the tertiary industry index fell 1.1 percent in January.

It has not been all bad for Japan though. Another report on Tuesday showed that the consumer confidence index rose from 43.3 in January to 44.3 in February, its highest level since mid-2007.

While Japan is leaving a recession, the UK may be falling back into one.

The National Institute of Economic and Social Research said on Tuesday that output in the UK declined by 0.1 percent in the three months to February after having fallen 0.2 percent in the three months to January. Another report on Tuesday showed that UK industrial output fell 1.2 percent in January.

The UK goods trade deficit did shrink though in January following the biggest monthly drop in oil imports since August 2008.

No comments:

Post a Comment