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Japan economy shrinks 0.8% in Q3, back in recession

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Japan's economy slipped back into recession in the July-September quarter, contracting at a 0.8 per cent annualised rate on weak domestic demand, government data showed on Monday.

[TOKYO] Japan's economy slipped back into recession in the July-September quarter, contracting at a 0.8 per cent annualised rate on weak domestic demand, government data showed on Monday.

The preliminary figure for gross domestic product compared with the median estimate of a 0.2 per cent contraction in a Reuters poll of economists.

It followed a revised 0.7 per cent fall in April-June, which was the first decline in three quarters.

On a quarter-on-quarter basis, the economy shrank 0.2 per cent in the third quarter, the Cabinet Office data showed.

REUTERS