JavaScript is off. Please enable to view full site.

Japan's economy contracts for first time in 2 quarters

Japan's economy contracts for first time in 2 quarters

Monday, November 15, 2021, 15:09 GMT+7
Japan's economy contracts for first time in 2 quarters
Pedestrians wearing protective masks amid the coronavirus disease (COVID-19) outbreak, make their way in Tokyo, Japan, February 2, 2021. Photo: Reuters

Japan's economy contracted at an annualised rate of 3.0% in July-September from the previous quarter, government data showed on Monday, posting the first decline in two quarters as resurgent coronavirus infections hurt consumer spending.

The gross domestic product (GDP) figure translated into a quarterly drop of 0.8%, worse than economists' median estimate of a 0.2% contraction, the Cabinet Office data showed.

Private consumption, which makes up more than half of the economy, fell 1.1%, versus a 0.5% decline expected by economists, the data showed.

Reuters

More

Read more

International Space Station swerves to dodge space junk

The International Space Station (ISS) had to swerve away from a fragment of a U.S. launch vehicle on Friday, the head of Russia's space agency said, the latest in a series of incidents in which space debris have forced astronauts to respond

20 hours ago
;

Photos

VIDEOS

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news