Monday, November 17, 2008

Japanese Economy Now in Recession

Japan's economy falls into its first recession since 2001 after shrinking by 0.1% in the July to September quarter. The world's second-biggest economy had previous shrunk by 0.9% in the April to June quarter. Growth in Japan has been hit by the global economic slowdown which has curbed demand for Japanese exports.

The eurozone officially slipped into recession last week, and the US is expected to follow.

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