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
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data