Japan's recession deeper than estimated

clock

Japan's economy shrank more than initially estimated in the third quarter of 2014, according to revised gross domestic product (GDP) figures.

The economy contracted by 1.9% in annual terms from July to September, well above a preliminary reading of 1.6%, the BBC reports. It also shrank 0.5% on a quarterly basis, compared with an initial estimate of 0.4%, data showed. A big fall in business spending plunged the economy into a deeper recession. The revised figures, which come just days before Japan's national elections, showed business spending dipped by 0.4% from the previous quarter, instead of the 0.2% estimated in the preliminary reading. The world's third largest economy unexpectedly fell into a technical recession...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Trustpilot