Japan's economy shrunk by 0.9 percent in the 3rd quarter, making a recession more likely this year. Exports have dropped and the yen has soared, as bad economic news is reported for the 2nd time in a year.
At the end of 2013, Japan’s economy grew at a slower pace than initially forecast, raising concerns that Prime Minister Shinzo Abe’s economic reforms are losing steam. The plan has also caused a record trade deficit.
Italy’s public debt hit a new high in 2013, soaring to a level not seen since the country’s statisticians began taking records. The debt exploded as Europe’s third-largest economy remained locked in recession.
Japan's economy has posted its best performance in three years, with growth figures for 2013 indicating that Abenomics is gaining traction. But this year's outlook appeared mixed, with a sales tax hike looming in April.
As the world grapples with a chronic shortage of jobs, the United Nations has turned its attention to Israel’s so-called innovation nation as a model to promote economic growth and job creation.
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