Reuters - Video

Edition: US | UK | IN | CN | JP

video Top News

Japan's economy slips behind China

Monday, August 16, 2010 - 01:45

August 16 - Japan's 2nd-quarter growth slows to 0.4 percent, slips to 3rd-largest economy, behind China

▲ Hide Transcript

View Transcript

China overtook Japan as the world's second largest economy on Monday after Japanese growth slowed down sharply in the second quarter. Latest GDP figures showed that Japanese economy grew just point 4% before seasonal adjustments. Well below the 2.3 percent forecast and sharply less than the four point 4% growth seen in the previous quarter. But Japan's economic administered disputed the figures saying the numbers for individual countries were calculated differently. I'm not -- whoever's top or bottom has no meaning it only represents each country's current economic health. Yeah. Our country's development closely follows that it charters and other Asian nations and that is also part of our growth strategy. They GDP numbers complicate policy making further with the Japanese government already grappling with further deflation and are rising again that threatens a gradual recovery in the export based economy. Prime minister Melville -- and think of Japan governor must like you should a column are expected to meet later this week to discuss how to curb the -- writing strength. Though analysts say their options are limited. Analyst hit making not to notice says this economic slowdown is just the beginning. -- And cool hand and beyond the July September quarter growth will slow down even more as the effects of economic stimulus on the Japanese economy fadeaway fully. The current quarter's figures just demonstrate the first effects of this. Japan's economy has struggled since emerging from its worst recession since World War II last year. A Chico -- Reuters Tokyo.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Japan's economy slips behind China

Monday, August 16, 2010 - 01:45