The Presidential Daily Brief

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    Japan Slides Into Recession

    Abenomics has suffered another hit. Prime Minister Shinzo Abe’s three-pronged approach to boosting the economy through fiscal stimulus, monetary easing and structural reforms has flatlined again. The Japanese economy contracted 0.8 percent in the third quarter, year on year, thanks to low consumer spending, market jitters and cutbacks in business investment. News of the recession reflects a hesitancy to heed calls for greater capital investment — a growing problem — and will likely increase demand for the $25 billion fiscal stimulus package Abe’s government has said it is mulling.

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