Japan in recession after third quarter figures

  • Japanese economy enters technical recession after two consecutive quarters of negative growth; PM Shinzo Abe says figures were not good but that 'Abenomics' is yielding gradual results. 
  • Japan's year on year GDP growth was -1.6 per cent for the third quarter from July to September; analysts polled by Bloomberg had estimated positive growth of 2.2 per cent. 

  • Quarterly growth was -0.4 per cent; year on year GDP for Q2 revised down to -7.3 per cent. 
  • Poor figures likely to lead to delaying of scheduled sales tax increase, for which Abe will reportedly seek a mandate for by calling an early general election.

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