Japan's economy shrinks 0.4% in Q3
www.chinaview.cn 2008-11-17 10:03:44   Print

Special Report: Global Financial Crisis

    TOKYO, Nov. 17 (Xinhua) -- Japan's economy shrank for a second consecutive quarter in the July-September period as the global financial crisis took a heavy toll on the world's second largest economy.

    Japan's gross domestic product (GDP), or the total value of the nation's goods and services, dropped an annualized 0.4 percent in real terms, compared with an annualized 2.1 percent decrease in nominal terms, the Cabinet Office said in a preliminary report.

    Consumer spending, which accounts for about 55 percent of Japan's GDP, saw a 0.3 percent rise in real terms from the previous quarter, while Corporate capital spending, a main driver of Japan's six-year economic recovery since 2002, slipped 1.7 percent, said the report.

    The GDP deflator, a key inflation gauge, declined 1.6 percent from a year ago.

Editor: Zheng E
Related Stories
Germany slides into recession
A timeline of China's macro-economic policy shifts over 30 years
European Commission: euro zone economy headed for recession
Vietnamese economy faces internal, external challenges
Merkel: global economy faces severe test since 1920s
Home Business
  Back to Top