Japan faces deflation for the first time in last decade

Note: This section contains information in English only.
Source: Bloomberg

Japan's recovery from March tsunami and earthquake, was harmed by drop both in retail sales and production in November.  Industrial production lost 2.6% compared to October while retail sales gave up 2.1%. As result, consumer prices excepting fresh food, tumbled 0.2% on a yearly basis. Japanese economy faces a downward path as exports are declining, said, Yoshimasa Maruyama, Itochu Corp. chief economist. 

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Wed, 28 Dec 2011 07:54:31 GMT

Asian markets extend losses on Wednesday

Asian stocks declined on Wednesday amid news about bigger than expected drop in house prices and rising Italian borrowing costs. Increase in US consumer confidence did not manage to offset losses. Hong Kong's Hang Seng Index dropped 0.7%, Australia's S&P/ASX 200 index gave up 1.1%, and South Korea's Kospi fell 1.2%. Japan's Nikkei Stock Average tumbled 0.1% while Shanghai Composite was down 0.7%. 

Wed, 28 Dec 2011 07:54:10 GMT

US consumer confidence in December better than forecast

The Conference Board Consumer Confidence Index, which already advanced in November, extended its progress also in December. Index for December reached 64.5 compared to 55.2 in November. Analysts previously predicted a reading to reach 58.5. The index measuring present situation increased from 38.3 to 46.7 while expectations index jumped from 66.4 to 76.4. 

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