Japan in recession as earthquake cuts consumption

[alp227]

Source: BBC News

Japan's economy contracted in the first three months of the year sending the country into a technical recession.

Gross domestic product (GDP) shrank 0.9% between January and March from the previous three months, the Cabinet office said.

The decline was worse then the expected figure of 0.5%.

Analysts say the 11 March earthquake and tsunami have impacted every aspect of the economy, but especially consumption and exports.

Read more: http://www.bbc.co.uk/news/business-13439701

[Poll_Blind]

1. I would like to see Americans making goods for Americans again.

We really need the jobs. This would be as good a time as any to turn off the spigot of cheap imports and realize that we're going to wind up a third world country unless we get more exports out the door.

PB

[Fool Count]

2. Japan's population is falling by 0.2% annually .

Why should consumption and GDP keep growing?