Japanese recession is worse than estimated
December 8 , 2014
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%.