A huge miss on GDP, a snap election called, an inflation rate at its slowest for a year, all in the space of a few weeks - so just what is going on with Japan? Professional Adviser speaks to two experts to dig behind the headlines.
Seneca Investment Managers global investment strategist Peter Elston (former head of Aberdeen's Asian multi-asset business) As misses go, it was as bad as Chris Waddle's at World Cup '90. I am referring of course to economists' estimates of Japan's third quarter growth. It didn't hit the post. It didn't even shave the bar. While average forecast was for GDP to rise at an annualised rate of 2.2%, the actual number came in at -1.6%. To put this in perspective, economists somehow failed to account for £24 billion of economic activity, making Tesco's £250 million hole look lik...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
