Japan Hits Record Deficit

Japan’s current account deficit widened to a record 1.5tn yen ($15bn; £8.7bn) in January, the largest since records began in 1985.

In further bad news, the country’s economic growth figures were also revised downwards.  Japan’s economy grew by 0.7% in 2013, down from an initial estimate of 1%.

Investors reacted with disappointment to the news, with the benchmark Nikkei 225 index falling by 95 points, or more than 0.6%.  From October to December 2013 Japan’s economy grew by just 0.2%, after earlier estimates showed an increase of 0.3%.

BBC

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