THIS IS REALLY CONCERNING:
Japan households spending declined in the last 14 out of 15 months.
Meanwhile, Japan's GDP shrank at an annualized pace of 2.9% in Q1 2024, rose slightly by 0.1% in Q4 2023 and contracted by a whopping 4% in Q3.
3rd largest economy is in a recession. pic.twitter.com/FgF9ZKzkkQ
— Global Markets Investor (@GlobalMktObserv) July 7, 2024
BREAKING: Japanese Yen has crossed above 160, the weakest level in over 38 years.
Some currency traders see $USDJPY pair to rise to 170, as interventions were ineffective.
Meanwhile, Japan is ready to intervene 24 hours a day for the 3rd time this year👇t.co/R8WiL0sSnu
— Global Markets Investor (@GlobalMktObserv) July 7, 2024
60% 🇯🇵 households are facing difficult financial living conditions. To think Japan was one of the richest countries during 80s and 90s. This a result of inflation outstripping wage, as the yen has reached record depreciation levels against the US dollar and large trade deficits pic.twitter.com/umPkoaGZXP
— Rihito says 我的推特账户已被归还 (@RihitoPhysicist) July 7, 2024