The Bankwatch

Tracking the consumer evolution of financial services

Bank of Japan announces improvement in Japanese economy

In a surprising statement Bank of Japan Governor Masaaki Shirakawa announces improvements in the Japanese economy.  It is surprising following several years of slow economy even before the economic crisis we are now in.  Click through for that, and a review of several economies including Canada.

Japan raises outlook | Reuters

WASHINGTON (Reuters) – Japan raised its economic outlook for the first time in three years on Monday, and an important measure of German business sentiment rose in May, in further signs the worst of the global recession may be over.

Research and guest comments by Nobuyo Henderson:

I look at the number of people losing jobs, stores closing, and while in Azaba Juban last week, it was very quiet and I could feel the difference.  Next to Tullys a new coffee shop closed after two months, and is replaced with a cheap meat restaurant.  I think it is too early to say it is over especially when he said this just a few weeks ago.

Previously, the government had said the economy was worsening rapidly and in a severe state.

Written by Colin Henderson

May 25, 2009 at 18:04

Posted in Japan

Tagged with ,

%d bloggers like this: