Economics
Japan Record Trade Gap Shows Risk of Abenomics Losing Steam
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Japan’s record trade deficit adds to sinking consumer confidence and an April sales-tax increase, threatening to undermine Prime Minister Shinzo Abe’s bid to engineer a sustained recovery.
Credit Suisse Group AG yesterday cut its 2014 economic growth forecast for Japan to 1.6 percent from 2.2 percent, as the government reported a 2.79 trillion yen ($27.3 billion) trade shortfall for January. The full-year deficit for 2013 was an unprecedented 11.5 trillion yen.