Japan Falls Into A Recession

Japan Falls Into A Recession
News
Like Us On Facebook
Like Us On Facebook

Following a second straight quarter contraction, Japan’s economy is now technically in a recession. Japan’s April-June GDP had to be revised to a 0.1% contraction at an annualized pace- a 0.03% decline from the previous quarter.

The revised data shows that following the July-September quarter GDP shrink of 0.9% , Japan is now considered to be in a recession.

“We had already said Japan was in a recession. Today’s number strengthened our case,” says Tomo Kinoshita, chief economist at Nomura Securities in Tokyo.

Despite the figures, the Japanese government urges people to remember that the recent diplomatic row with China, along with continued fallout from the tsunami and nuclear disaster have much to do with the disappointing figures.

Paul Hudson | Elite. 

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Paul Hudson

A young writer, philosopher, and entrepreneur, Paul Hudson (@MrPaulHudson) has been writing for Elite Daily nearly since the start. Currently located in Manhattan, Paul Hudson primarily devotes his time between writing for Elite Daily and a mining startup in Turkey. He loves sharing his life experiences with his readers and makes sure to practice what he preaches.

More In News

World Emily Arata

This Hilarious ‘Grease’ Parody Is All The Convincing You Need For Legalized Weed

Sandy and Danny have never looked quite as marijuana-friendly as they do in 4 Twenty Today’s shot-for-shot parody of “You’re the One That I Want” from “Grease.” 4TT is a weed-friendly YouTube news channel that wholeheartedly supports Florida’s Amendment 2, which decriminalizes marijuana use for those with medical marijuana authorization. Sandy’s new incarnation, Mary Jane, […]

Also On Elite

Sports

Brock Lesnar’s SummerSlam Performance Proved He Is The Champion The WWE Needs

Dynasties exist in every sport, and even in the WWE, where superstars must make a name for themselves as individuals, superior talent always rises to the top. Brock Lesnar staked his claim as the biggest wrestling star in the world yesterday, and he’s showing no signs of slowing down. After shocking the world by taking […]

Life

Living The Dream: How Traveling Truly Becomes Your Most Treasured Experience

There is no way to be prepared for it, really. When you first get home from backpacking or living overseas, things do feel somewhat new again. The excitement blossoms when you first see your family and your friends. The relief flows through you when you finally get your hands on that sandwich you’ve been craving, […]