Japan PM: GDP figures severe, will respond with sense of urgency

TOKYO Sun Nov 11, 2012 8:23pm EST

TOKYO Nov 12 (Reuters) - Figures showing a 0.9 percent contraction in Japan's economy in the three months to September, the first in three quarters, are severe, Prime Minister Yoshihiko Noda told a lower house budgetary committee on Monday.

"We will respond with a sense of urgency," he said.

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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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