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Japan third-quarter GDP shrinks 0.9 pct q/q
November 12, 2012 / 12:00 AM / in 5 years

Japan third-quarter GDP shrinks 0.9 pct q/q

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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