Japan back in recession as export economy suffers losses
Tuesday 11 December 2012
Japan joined Italy on the economic sick-list yesterday, as official figures tipped the country back into recession.
Output shrank by 0.9 per cent between July and September, but revisions to previous data also showed a slight decline between April and June. The latest figures leave Japan and Italy alone among the world's eight-biggest economies presently in recession.
Experts fear Japan's plight will get even worse between October and December as the export-reliant economy suffers from its diplomatic row with China over disputed islands.
The country's biggest firms, such as car-making giant Toyota, have been hard hit by the row, putting pressure on the Bank of Japan to pump more stimulus into the economy.
"There is still a good chance that Japan's economy will suffer another contraction," said Takeshi Minami, chief economist at the Norinchukin Research Institute in Tokyo.
- 1 What happens to your body when you give up sugar?
- 2 Ed Miliband less influential than One Direction's Louis Tomlinson in official Doncaster power list
- 3 Japanese island overrun with cats after population explodes
- 4 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
California teacher appears to have hanged herself in her classroom
The City of the Monkey God: Archaeologists claim to have found city lost for 1,000 years in remote Honduran jungle
Japanese island overrun with cats after population explodes
Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
Bubonic plague-carrying fleas found on New York City rats
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
iJobs Money & Business
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...
£50000 - £60000 per annum + Excellent Salary: Austen Lloyd: An outstanding new...
£20000 - £21000 per annum + uncapped commission: SThree: As a graduate you are...
£18k + Uncapped Commission (£25k Y1 OTE): Guru Careers: We are seeking an Inbo...