This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Monthly Industrial Output Slightly Better In Japan

By ELAINE KURTENBACH

TOKYO (AP) â¿¿ Japan unleashed yet another barrage of stimulus at its stagnant economy on Friday as debate over how to revive growth heated up ahead of a general election widely expected to deal a severe blow to the ruling Democratic Party.

Fresh data for October showed an uptick in industrial output from the month before, the first increase in four months, but little else in the way of encouragement.

The opposition Liberal Democratic Party, which is pushing for more aggressive action to spur growth, is widely expected to make major gains in a Dec. 16 general election.

The latest stimulus package approved by the Japanese Cabinet, totaling 880.3 billion yen ($10.7 billion), is earmarked mainly for spending on social programs, employment creation and support for small and medium-size enterprises. It is expected to add 0.2 percent to Japan's economic growth rate and to help create about 80,000 jobs, the Cabinet said.

The total size is not enough to really boost GDP, especially for early next year," said Junko Nishioka, an economist at RBS Japan Securities. "It is not enough to change the mood of business activity."

The economy shrank an annualized 3.5 percent in July-September, and many economists say they expect a further contraction in the current quarter, which would land Japan in its fifth recession in 15 years.

LDP leader Shinzo Abe contends much stronger action is needed to help pull the economy out of the doldrums and has urged that the central bank move more aggressively to end deflation, which has hindered growth for much of the past two decades.

Abe and Prime Minister Yoshihiko Noda were due to face off later Friday in a policy debate. Even if Noda's party does lose its parliamentary majority in the election, the LDP would likely have to forge a coalition in order to take power.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs