By Dan Kedmey
Japan’s current account deficit swelled to $15 billion in January, the largest in its recorded history.
The bad news comes on the heels of another unsightly indicator, GDP growth, which officials revised from an anemic 1% in 2013 to an even more anemic 0.7%. Not even consumer spending, which was expected to rise before a new consumption tax went into effect, escaped the downward drift. Officials revised it down from 0.5% to 0.4%.
The Nikkei index slid 95 points following the news of the slowdown.
[BBC]
More Must-Reads From TIME
- Why We're Spending So Much Money Now
- The Fight to Free Evan Gershkovich
- Meet the 2024 Women of the Year
- John Kerry's Next Move
- The Quiet Work Trees Do for the Planet
- Breaker Sunny Choi Is Heading to Paris
- Column: The Internet Made Romantic Betrayal Even More Devastating
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
Contact us at letters@time.com