Japan enters first recession in 7 years

FT.com

By Michiyo Nakamoto in Tokyo

The Japanese economy has entered its first recession in seven years, data showed on Monday.

Gross domestic product shrank 0.1 per cent in the three months to September 30 from the previous quarter, following a quarterly decline of 0.9 per cent in the second quarter. The third-quarter decline was worse than economists’ forecast for flat growth or a mild upturn.