Bad News For Japan’s Economy – Finally

Japan finally got some bad news for their economy — bad enough for for the Nikkei to drop half of its gain from the previous day. Oh, pity!

After looking at the July-Sep quarter, Tokyo revised the annual growth of the economy to 0.8% instead of 2.0%.

Domestic demand was down instead of up and consumer spending had slipped more than they had figured.

Machinery orders, however, rose 2.8%, but not the 5.7% that economists had forecast.

Pharmaceuticals lost and the dollar was trading at 115.38 – (good news for me when I get my commission from Japan.)

All in all…the old adage is still true – lay 20 economists end on end and they still won't reach a conclusion.

Three months from now, the news will be different again.

What do you think?