Japan Falls Into A Recession

Japan Falls Into A Recession
News

Japan Falls Into A Recession

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. 

More In News

World

There Are 700 Bridges In Washington Weaker Than The One That Collapsed

There are apparently more than 700 bridges in Washington State with worse sufficiency scores than the bridge that collapsed into the Skagit River last night, according to the Seattle Times. Federal records state that the collapsed bridge had a sufficiency rating of 57.4 of 100, far below the state average of 80. But 759 that [...]

World

Homeless High School Student Manages To Graduate As Valedictorian (Video)

A Georgia teenager serves as an inspiration and a pillar of hard work, as the homeless girl worked relentlessly to graduate and earn her spot as valedictorian of her high school. Chelesa Fearce managed to keep her grades up despite not being able to call a place home. “I just told myself to keep working, [...]

World

Bridge In Washington State Collapses With People On It

A truck carrying an oversized load of construction equipment hit an overhead girder on the Interstate 5 bridge connecting Seattle and Canada Thursday night, causing the front end of the bridge to collapse. The truck driver watched the bridge go down in his rear view mirror. Two cars following the truck dropped 25 feet down [...]

World

29 New Jersey Bars Caught Selling Intentionally Mislabeled Liquor

If you’re a scotch aficionado, you probably want to avoid bars in New Jersey, as it has been revealed multiple bars were combining food coloring and rubbing alcohol and selling it as premium liquor. Bars all over New Jersey, twenty-nine in total, were accused of substituting cheap liquor for expensive liquor, or even putting water [...]

World

Study Shows Super Religious Cities Are Some Of Porn’s Biggest Consumers

A recent poll released from Pornhub.com has determined that some of the most religious cities in American are also where where the most porn is downloaded. Pornhub.com, one of the world’s largest porn sites, used data from a Gallup poll that displayed the amount of “very religious” people in U.S. cities and compared it with [...]

World

Watch As This Man Plays Guitar While Surgeons Operate On His Brain! (Video)

If you think playing guitar is an impressive feat, you won’t believe your eyes when you see a man strumming away while doctors perform brain surgery on him. In the middle of 39-year-old Brad Carter’s surgery, he played a few songs on the guitar. “I’m excited to play this guitar,” Carter, who suffers from Parkinson’s [...]

Also On Elite

Entertainment

Nascar Driver Dick Trickle Commits Suicide (Audio)

Dick Trickle sounded extremely calm for a man planning to execute himself when he called 911 yesterday and told the operator. “There’s going to be dead body … suicide.” TMZ just got their hands on the 911 call made by the NASCAR driver moments before he shot himself. In the call, Trickle gives the 911 [...]

Entertainment

Apple Is Attempting To Reincarnate Jobs Back In A Hologram

It appears that Apple is trying to bring the late great Steve Jobs back to life… in the form of a hologram. First it was Tupac, then Eazy-E, and now there’s talk that Steve Jobs could be the very next hologram to appear at a major public Apple event. Apple CEO Tim Cook is not exactly putting the rumors [...]

Sports

Cleveland Cavaliers Win NBA Draft Lottery But Will They Trade #1 Pick?

The Cleveland Cavaliers have been reeling since LeBron James took his talents to the Miami Heat after the 2009-10 season. Now, Cleveland is having a string of good luck. For the second time in three years, the Cavaliers will have the No. 1 pick in the NBA draft. “It’s huge for us,” Cavaliers owner Dan Gilbert [...]

Life

Is Trade School The Future?

The recession and successive slow recovery period has put a damper on college and graduate enrollment. Many people are realizing their money, time, and efforts are better spent on a narrow field that applies directly to their dream career. Technical programs are typically much more hands on than traditional undergraduate programs. The learning environment these [...]

World

Twins Born 87 Days Apart Are Now Guinness World Record Holders

34-year-old Maria Jones-Elliot of Glenmore, Ireland, went into premature labor last year, which was expected considering she was carrying twins. In June of 2012, she gave birth to the first of two girls, four months ahead of schedule. Doctors tried to induce the birth of the other twin, but could not. Amy Elliot’s twin sister [...]

Women

Selfridges To Host First Drive-Through Department Store Service

If you were to ask any person from any country in the world which country was the laziest, I think they would all respond “America,” much to my own disappointment. America is the country that perfected the drive-through and countless other effortless services as a means of making our very difficult lives less difficult. Americans [...]