{"id":193309,"date":"2018-12-10T03:42:04","date_gmt":"2018-12-10T08:42:04","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=193309"},"modified":"2018-12-10T03:42:04","modified_gmt":"2018-12-10T08:42:04","slug":"japan-economy-shrank-at-2-5-per-cent-annualized-rate","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/12\/10\/japan-economy-shrank-at-2-5-per-cent-annualized-rate\/","title":{"rendered":"Japan: Economy shrank at 2.5 per cent annualized rate"},"content":{"rendered":"
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The earlier data put the contraction at 1.2 per cent, as consumer spending, investment and exports fell. (File Photo<\/a>: Trevor Dobson\/Flickr<\/a>, CC BY-NC-ND 2.0<\/a>)<\/figcaption><\/figure>\n

TOKYO \u2014 Japan’s economy shrank at an annualized rate of 2.5 per cent in July-September, a worse contraction than preliminary data indicated last month, the government said Monday.<\/p>\n

The earlier data put the contraction at 1.2 per cent, as consumer spending, investment and exports fell.<\/p>\n

The revised data from the Cabinet Office shows the seasonally adjusted gross domestic product \u2014 the total value of a nation’s goods and services \u2014 dipped 0.6 per cent in the third quarter from the previous quarter.<\/p>\n

The data showed private demand and investment fell at a deeper pace than the initial estimate.<\/p>\n

Japan’s economy, the world’s third largest, grew in April-June, but contracted the quarter before that. That contraction ended the longest straight period of expansion for Japan in nearly three decades.<\/p>\n

Natural disasters during the third quarter weighed on consumer travel and spending, which means growth could recover if such events don’t occur during the year’s final quarter.<\/p>\n

The closure of a major airport in the western Kansai area after a typhoon was one of the natural disasters that brought down growth. A major earthquake also hit the northernmost island of Hokkaido during the quarter, causing deadly landslides and widespread blackouts.<\/p>\n

Until recently, Japan had been experiencing moderate growth under Prime Minister Shinzo Abe’s \u201cAbenomics\u201d policies based on a deflation-fighting stimulus program of cheap lending. The nation’s continuing labour shortage and slow wage growth are also hurting growth.<\/p>\n

Abe’s attempts to help women join the workforce are showing only gradual results. Parliament passed a law over the weekend allowing more immigrant workers into Japan starting in April.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

TOKYO \u2014 Japan’s economy shrank at an annualized rate of 2.5 per cent in July-September, a worse contraction than preliminary …<\/p>\n","protected":false},"author":44,"featured_media":193311,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-193309","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-yuri-kageyama","mauthors-the-associated-press"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/193309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=193309"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/193309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/193311"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=193309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=193309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=193309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}