Cooling growth in China and an economic trouble in Europe are adding to pressure on the Bank of Japan and the government to step up policy support as the economy struggles to recover from the pain of an April sales tax hike. Today’s graphic contains seven charts on key economic indicators of the Japanese economy.
Japan suffered its biggest economic contraction since the devastating March 2011 earthquake in the April-June quarter, as a sales tax hike took a heavy toll on household spending. Today’s graphic charts seven key indicators for the Japanese economy.
U.S. employers kept up a strong pace of hiring in May, returning employment to its pre-recession level. However, the share of Americans who have jobs or are looking for one has fallen steeply, though many states have shown signs of improvement. Read everything you need to know about the May jobs report in today’s live blog.
Today’s graphic looks at the Russian economy under Vladimir Putin in six charts. This month marked the 10th year of Putin’s presidency. Read the full Reuters investigates special report on how Russia does business in the Putin era.
British Prime Minister David Cameron’s plans to renegotiate ties with the European Union (EU) are “wishful thinking”. That was a takeaway from our Reuters Newsmaker with UK Deputy Prime Minister, Nick Clegg, held at our South Colonnade office (May 9) in London.
Reuters journalist and TV anchor Axel Threlfall hosted the ‘standing-room only’ interview and Q&A session. In his opening speech Nick Clegg said that Cameron’s threat to opt out of the Euroean Union, or “Brexit”, put the Prime Minister on a collision course with his backbench Members of Parliament (MPs) and the needs of British business. If re-elected next year, David Cameron would try to renegotiate Britain’s ties to the EU and give the nation a referendum on whether to remain inside the 28-nation bloc.
Clegg said: “You fight Britain’s corner effectively not by going on a whistlestop tour of Europe’s capitals, a list of make-or-break demands in hand. You do it by engaging with our neighbours, forging alliances with like-minded states and winning the argument.”
What would Britain look like if it left the EU? (more…)
Thailand is teetering on the brink of recession amid weak exports, a year-long slump in industrial output and a drop in tourism. Consumer confidence has also fallen to its lowest level in more than 12 years in April as the protracted political crisis that began in November continues to take a toll on Southeast Asia’s second-largest economy. Today’s graphic is a snapshot of Thailand’s economy.
Taxes on wages rose across industrialized countries last year, as governments sought to reduce budget deficits increased by attempts to counteract years of economic weakness following the global financial crisis. According to the OECD, the total world taxes on wages rose to 35.9% in 2013 from 35.7% a year earlier. Today’s graphic shows the tax wedge and unemployment rate of the OECD countries.
The Bank of Japan is expected to stand pat on monetary policy and maintain an upbeat view of the economy at its policy meeting next week. The nine charts below look at how the Japanese economy performed under Prime Minister Shinzo Abe.
While risks to the Asia-Pacific region’s growth outlook have eased, further shock to global financial markets from the U.S. tapering of stimulus and expected policy tightening, an uneven recovery in developed economies, and the possibility of slower growth in China as it aims to curb credit expansion would weigh on the region’s economic uptrend. Today’s graphic summarizes the Asian Development Bank’s latest forecast for Asia in four different charts.
Chinese companies owe just over $1 trillion in domestic bonds, of which 15.8% is coming due this year. A Reuters analysis of more than 2,600 Chinese companies found credit metrics worsening across a range of industries. Today’s graphic show short-term debt to cash for each mid and large cap company listed on the Chinese stock exchange.