Japan's gross domestic product contracted more than first estimated in the July-September quarter, the government said Tuesday, further evidence of a deepening slump in the world's second largest economy.
Assembly line workers on a Toyota Motor's production line at the company's Tsutsumi factory in Aichi prefecture, Japan, pictured in 2007. Japan's gross domestic product contracted more than first estimated in the July-September quarter, the government said Tuesday, further evidence of a deepening slump in the world's second largest economy. [Agencies]
The Cabinet Office said GDP, a measure of the value of goods and services, shrank at a 1.8 percent annual rate in the July-September quarter compared with the initial estimate of a 0.4 percent contraction.
Japan's economy slipped into recession in the third quarter of this year with GDP contracting 0.5 percent from the previous quarter. A recession is usually defined as two consecutive quarters of negative growth.
Last week, Japan raised its estimate of fiscal 2007 economic growth to 1.9 percent from 1.7 percent, citing a stronger-than-expected rise in capital investment.
But the US has been in a recession for a year now, adding to pressure on Japan's export-dependent economy.
________________________________
age of Conan gold
淘宝刷信誉
FFXI Gil
warhammer online gold
2moons dil
