Opposition parties lashed out at the government of Prime Minister Shinzo Abe for its economic policies on Nov. 17 when worse-than-expected Japanese gross domestic product (GDP) data for the July-September period was released.
Economic indicators, including rising share prices, had been seen as a tail wind for the government, but the unexpected negative GDP growth for two consecutive quarters is beginning to set the stage for a possible snap general election to be focused on whether the “Abenomics” economic policy mix is good for the country.
Yukio Edano, secretary-general of the main opposition Democratic Party of Japan (DPJ), told reporters in the Diet building on Nov. 17, “This is a bad figure that goes far beyond our imagination.” He went on to say, “This is the result of the economic policy of the past two years adversely affecting the real economy. The basics of the economic policies should be reviewed.” He blamed Abenomics for the current economic slump.
via Mainichi
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Alfonso Esparza