Japan economy contracts for 2nd straight quarter

posted on November 18, 2015

Japan's economy contracted for the second consecutive quarter in July-September, reflecting sluggish corporate capital expenditures and a slow recovery in consumer spending, government data showed Monday.

The country's seasonally adjusted gross domestic product fell 0.2 percent from the previous quarter in inflation-adjusted real terms, shrinking at an annualized rate of 0.8 percent, the Cabinet Office said in a preliminary report.

The annualized result was worse than the median forecast of a 0.3 percent drop by 21 economic research institutes polled by Jiji Press.

Japan's real GDP last contracted for two straight quarters in the April-September period of 2014, when the economy slumped after the country's consumption tax rate was raised to 8 percent from 5 percent in April that year.

In nominal terms, GDP in July-September grew 0.01 percent from the previous quarter, for an annualized increase of 0.1 percent.


source by the-japan-news
Next bit of japanflyness

Rikugien creates magical view and beautiful evening in the center of Tokyo.

Sengakuji Temple, where 47 ronin are buried, holds the Festival to celebrate the anniversary of their avenge.

Pray for a health, good fortune and good business for next year!!

favorite_border

Five million people visit this gorgeous Midtown Christmas Illumination every year.

Legendary foxes march around the city on New Year's Eve.