Mexican Media Brands
Japan’s Economy Contracts
Japan's gross domestic product shrank at an annualized rate of 3.5% in the July-September period compared with the previous three months, the country's Cabinet Office reports.
#economics
Share
Japan's gross domestic product shrank at an annualized rate of 3.5% in the July-September period compared with the previous three months, the country's Cabinet Office reports. The contraction reversed two previous consecutive quarters of growth.
Economists attribute the slowdown to a 0.5% drop in domestic consumer spending and lower global demand for Japan's exports. The strong yen and heightened anti-Japan sentiment in China the country's biggest trading partner have exacerbated the latter.
Japan's GDP is likely to shrink again in the current quarter, analysts say, thus sinking the country into recession, which is defined as two consecutive quarters of contraction.
RELATED CONTENT
-
Is The V8 Dead?
Tougher fuel economy standards may be the end of most V8s.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future