ML-Implode News - Japan's Economy Slows to Snail's Pace as Exports Falter

Japan's economy barely grew in the April-June quarter, as weaker exports and business investment weighed on the faltering recovery. Growth... was flat on a quarterly basis, adding to pressure on the Bank of Japan to take further action to stimulate slack corporate spending. The economy expanded at a 0.2 percent annual pace in the last quarter, compared with a revised 0.8 percent rate in January-March period.
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Moving to salvage his "Abenomics" strategy for fighting stagnation, Prime Minister Shinzo Abe recently proposed 28 trillion yen ($267 billion) in spending initiatives meant to get consumers and businesses to spend more and support the recovery.

The Bank of Japan also recently announced it would modestly increase its asset purchases from financial institutions to help inject more cash into the world's third-largest economy and pursue its 2 percent inflation target.

It also plans a "comprehensive assessment" of the impact of the bank's monetary easing on the economy, citing "considerable uncertainty" over the outlook for prices and global markets.

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Japan's Economy Slows to Snail's Pace as Exports Falter