UPDATE 3-Japan's economy shrinks faster than estimated as virus compounds recession risk [Reuters]
Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG)
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Source: Reuters
Japan's economy shrinks faster than estimated as virus compounds recession risk TOKYO (Reuters) - Japan’s economy shrank more than initially estimated in the fourth quarter - by the most since the 2014 sales tax hike - exacerbating fears for economic prospects at a time when the impact of the coronavirus outbreak is increasing recession risk. A spike in the yen and drop in Tokyo stocks - against a backdrop of oil price cuts that are playing havoc with financial markets - add to woes for an economy which is contending with an October sales tax hike to 10% from 8%, as well as slumping tourism and supply chain disruption caused by the health crisis. The bleak data piles renewed pressure on the government and central bank to deploy stronger fiscal and monetary support. “Japan’s economy is already in recession and there are emerging signals that the worst has yet to come,” said Mizuho Securities senior market economist Toru Suehiro. “There’s not much the Bank of Japan (BOJ) can do as monet
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MFG
Sec Filings
- 11/14/24 - Form 6-K
- 11/14/24 - Form 6-K
- 11/14/24 - Form 6-K
- MFG's page on the SEC website