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

Paul Hudson

A young writer, philosopher, and entrepreneur, Paul Hudson 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 the two entrepreneurial endeavors he is currently pursuing: a mining company in Turkey and a video content platform called lilHub. He loves sharing his life experiences with his readers and makes sure to practice what he preaches.

More In News

World Liz Rowley

Your Sleeping Position Can Tell A Lot About The Relationship You’re In (Photo)

How we sleep could be an indication of the strength of our relationship, according to recent findings by the Edinburgh International Science Festival. The research defines particular sleeping positions for couples, such as “face to face, but not touching” and “facing same direction, but touching.” To each of these categories, the study assigns an overall […]

World Liz Rowley

You’ve Never Seen New York City Quite Like This (Video)

Do your self a favor and take two minutes to watch this video. Whether you adore the concrete jungle or not, this will ignite new love in audiences far and wide. Posted to Vimeo yesterday, this is an aerial montage of New York City. Shot by Randy Scott Slavin and set to music by DJI Phantom, […]

World Liz Rowley

The Best Neighbor Ever Welcomes New Tenant With Amazing Letter (Photo)

I expected this story to unfold in some scathing and embittered back-and-forth between two tenants. At first glance, my instinct was mistrust and skepticism. This must mean I’ve lived in New York just long enough to be jaded. Needless to say, by the time I finished reading I was ashamed at myself for forgetting that, […]

Also On Elite

Music News

Kid Cudi Wore A Crop Top At Coachella, And The World Responded

Saturday night at Coachella saw a revealing wardrobe choice from wunderkind Kid Cudi. Costumes were out and about throughout the festival, ranging from the utterly insane to the downright mundane. Yet, Cudi’s choice to sport a crop top on stage made the biggest waves of all across social media platforms. Twitter users were quick to […]

World

Worst Mother Ever Punches Son In The Face After He Announces He’s Gay

A British mother of 10 was so outraged when her son came out as gay that she couldn’t stop herself from punching him in the face in front of a group of cops. According to Daily Mail, 37-year-old Emma Green of Kinross, Scotland, went into a drunken tirade after her 21-year-old son told her he […]

Envision

Scientists Are Now Using X-Ray To Look Inside Ancient Pieces Of Art (Photos)

Attention all New Yorkers: There’s something spectacular happening at the Yancey Richardson Gallery that is well worth going out of your way for. The current exhibit, on display until May 10, comes to us from photographer David Maisel. Maisel is well known for his aerial photo work that often explores landscapes from new heights and […]

Envision

Model Transforms Into A Real-Life Marge Simpson And It’s Terrifying (Video)

Some people have a lot of time on their hands. If you know anything about “The Simpsons,” you know that it’s pretty difficult and actually alarming to picture a human version of the show’s yellow characters. Fortunately for us, someone else became a real-life version of Marge Simpson so we don’t have to. Alexander Kholov, […]