Japan third-quarter GDP shrinks 0.9 pct q/q

TOKYO Sun Nov 11, 2012 6:58pm EST

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TOKYO Nov 12 (Reuters) - Japan's economy shrank 0.9 percent in July-September from the previous quarter, the first contraction in three quarters, government data showed, in a sign that faltering global demand and weak consumer spending may push the economy into a mild recession.

The contraction was in line with the median estimate for a 0.9 percent fall, according to a Reuters poll, and followed a revised 0.1 percent rise in the April-June quarter.

Japan's gross domestic product (GDP) figure translated into an annualised decline of 3.5 percent, slightly bigger than the median economist forecast of a 3.4 percent fall.

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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