Investing to Wealth

That lights-out Japanese GDP report last night? Turns out it came out a little earlier than planned.

Trade Minister Masayuki Naoshima accidentally announced the news in a speech to the Petroleum Association of Japan.

Bloomberg: Naoshima disclosed the information that gross domestic product grew at an annualized 4.8 percent between July and September around 8 a.m., trade ministry spokesman Daisaku Saito said. The statistics were officially released at 8:50 a.m.

“I would like to apologize to everyone concerned,” Naoshima told Bloomberg News. “I didn’t know the announcement was at 8:50.”

It sounds like a legitimate slip, and it's not a huge deal, though opponents of the ruling Democratic Party are using it as an example of their incompetence. And since the party has struggled since coming into office (there have been many controversies), this kind of bush-league error doesn't help.

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See Also:

• Japan Blasts Out Of Recession With Big GDP Gains
• You Should Be VERY Concerned About Our Parallels With Japan
• It's Time For Japan And China To Team Up And Form A Trading Bloc