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Japanese recession is worse than estimated

  • The Japanese economy contracted by 1.9% (in annual terms) during the third quarter, revised data show, confirming that it was undergoing a recession.

    Both public spending and business figures are worse than expected. A majority of economists had predicted upward revision of previous figures that showed a contraction of 1.6% in the July-September period.

    Similarly, according to the earlier predictions, the economy contracted 0.4% on the quarterly basis; the new data puts it at 0.5%.  

     

    Tagged as: Japanese economy, Japan, contraction, recession, economists, predictions, Japan economy, business news