Japan lowers 見積(る) of 4Q growth, still escaped 後退,不況

TOKYO (AP) ― Japan's economy escaped 後退,不況 last 4半期/4分の1 but grew いっそう少なく than first 概算の as 需要・要求する and 給料 remained weak, the 政府 said Monday.

The world's third-largest economy is 回復するing from a blow to 消費者 and 商売/仕事 spending from a 物品税 引き上げ(る) on April 1, 2014. 購入(する)s 急落(する),激減(する)d after 殺到するing to (警官の)巡回区域,受持ち区域 that 増加する.

The 政府 said the economy grew an annualized 1.5 パーセント in the final 4半期/4分の1 of 2014 compared with its earlier 見積(る) of 2.2 パーセント growth. It 契約d 2.6 パーセント in the July-September 4半期/4分の1 and 6.4 パーセント in the April-June 4半期/4分の1.

For all of 2014, Japan's economy stagnated, neither growing nor 契約ing from the previous year.

Monday's 改正 反映するs lower 私的な 需要・要求する, flat-lining 法人組織の/企業の and 居住の 投資 and a downward 改正 to 商売/仕事 在庫s. It also showed a slight 減少(する) in incomes.

More 最近の data have shown a 回復 in 輸出(する)s and 増加するd orders of 機械/機構, which are 決定的な drivers for growth. Both the 政府 and central bank say the economy is still in the 中央 of a 穏健な 回復.

"The economy is growing. 給料 are growing. Only the shock of untimely 消費 税金s is 妨害するing growth," Koichi Hamada, a Yale University 経済学者 and 助言者 to 総理大臣 Shinzo Abe, told reporters last week. "There is a rosy 未来 for the Japanese economy."

The centra l bank is spending 一兆s of yen (tens of billions of dollars) a month on 資産 購入(する)s, 捜し出すing to 刺激(する) インフレーション and end once and for all chronic デフレ that Hamada and some other 経済学者s say is slowing growth.

As the U.S. 包むs up its 時代 of いわゆる "quantitative 緩和," Europe and Japan are still counting on it to help 刺激(する) growth.

But 落ちるing oil prices and 比較して weak 国内の 需要・要求する have slowed Japan's 進歩 toward its goal of a 2 パーセント インフレーション 率.

Extreme 通貨の 緩和 has been the linchpin of the "Abenomics" 経済的な 復活 戦略, along with strong 政府 spending and 広範囲にわたる 改革(する)s.

進歩 in those areas has also been modest, with 政府 spending rising 0.1 パーセント in the last 4半期/4分の1 from the year before.

The 大規模な 注射s of cash into the economy have 押し進めるd the value of the Japanese yen lower, raising 輸入する costs but also 産する/生じるing a windfall for big Japanese 会社/団体s that earn much of their 利益(をあげる) overseas.

Abe has been 勧めるing 商売/仕事 leaders to put more of their 記録,記録的な/記録する 収入s into raising 給料, to help support 消費者 需要・要求する. So far, most 増加するs have come in the form of 特別手当s, while 増加するs in base 給料 for the 大多数 of 労働者s 雇うd by smaller companies have lagged インフレーション.

苦悩 over 職業 insecurity and stretched incomes is a problem seen in many 産業の economies, Nobel Prize winning 経済学者 Robert Shiller of Yale said at a 最近の news 会議/協議会 in Tokyo.

Shiller 賞賛するd Abe for 捜し出すing to 奮起させる more 信用/信任, and for 誓約(する)ing to shake up 沈滞した 産業s and 削減(する) through bureaucratic red tape that many in Japan 見解(をとる) as a major hindrance.

But the 行き詰まり over spending remains a challenge in Japan and どこかよそで, he said.

"People are worried and the result of the worrying is they don't want to spend much," Shiller said. "There's no 平易な cure for these psychological fluctuations."

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