WORLD Japan's economy shrinks 1.2 pct in July-Sept. period

WORLD

Japan's economy shrinks 1.2 pct in July-Sept. period

Xinhua

09:05, November 14, 2018

TOKYO, Nov. 14 (Xinhua) -- Japan's economy shrank at an annualized rate of 1.2 percent in the July-September quarter, the government said in a report on Wednesday.

VCG111166401625.jpg

This picture taken on August 17, 2018 shows people crossing a scramble intersection in Tokyo's shopping district Shibuya. (Photo: VCG)

According to the latest figures, the quarterly contraction marked the largest contraction in real gross domestic product (GDP) since October-December 2015.

The latest figure comes on the heels of a 3.0 percent expansion logged in the April-June quarter.

A string of natural disasters took their toll on private consumption and saw exporters negatively impacted, the government said.

On quarter Japan's economy shrank 0.3 percent.

Private consumption, which accounts for more than half of the Japanese economy, slipped 0.1 percent, while exports declined 1.8 percent, with capital expenditure shedding 0.2 percent.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue