11:25 p.m.
Wednesday, 22 November 2017

Japan GDP fell 3.5%

Yokohama, Japan.- The Government of Japan confirmed that the Gross Domestic Product (GDP) between July and September fell 3.5 percent year on year, as reported in the preliminary last month.

While some figures, such as capital spending, were revised upward, a revision downward of public investment remained the contraction of the economy in the Asian country.

The Government also confirmed that compared to the previous quarter, Japanese GDP fell 0.9 percent. However, the GDP data April–June Yes was revised until it is practically flat (with a minimum decrease of 0.03 per cent) against the slight increase of 0.1 percent which had been calculated in a preliminary way.

The latest data reinforced fears of a new recession in Japan, since analysts suggest that in the current October-December quarter GDP will be probably negative, which would mean two consecutive quarters of contraction that would show a technical recession.

Earlier this month the Government approved a new economic stimulus package by over 8,000 million euros to give new impetus to the stagnant economy, with measures which would contribute to increase the GDP by 0.2 percent according to the Executive.

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