Turns out, it was probably a setting sun.
Well, I’ve been meaning to check in on our friends in Japan for some time now. There just doesn’t seem to be enough time in the day, any more.
As it was easily predicted, the news just goes from bad to worse for Japan.
In retrospect, a stagnating economy looks pretty good, no?
In the second preliminary estimates published on September 8, the Japanese economy is reported to have shrunk by 1.8% quarter on quarter (qoq), The estimate is a slight downward revision from the first estimate published on August 13 that calculated the shrinkage to be 1.7% qoq.
The main reason for the change between the first and second estimate is the downward revision in the private capital expenditure. It was initially estimated to have shrunk by 2.5% qoq, and…
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