Financial Times FT.com

Japan enters first recession in 7 years

By Michiyo Nakamoto in Tokyo

Published: November 17 2008 04:20 | Last updated: November 17 2008 19:26

The Japanese economy has entered its first recession in seven years, data showed on Monday.

Gross domestic product shrank 0.1 per cent in the three months to September 30 from the previous quarter, following a quarterly decline of 0.9 per cent in the second quarter. The third-quarter decline was worse than economists’ forecast for flat growth or a mild upturn.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this