The FT reports this morning that:
The strength of Japan’s economic recovery came under question on Monday as second-quarter growth figures came in sharply below economists’ expectations. Growth in the country’s gross domestic product slowed to an annualised, seasonally adjusted pace of 0.4 per cent in the three months ended June 30. That was far below the revised 4.4 per cent pace posted in the first quarter and economists’ predictions of 2.3 per cent for the latest period.
Let’s take a reality check here, shall we?
When the G20 committed itself to recessionary economic policies in June why does anyone think we’re going to be seeing any serious growth in major exporting locations such as Japan?
If you choose to kill growth then growth dies – that’s what happens.
George Osborne please note.