Dubai – Mubasher: Japan’s gross domestic production fell in the third quarter of 2015, missing estimates due to weak local demand, thus it moved back into recession again after relative recovery in the previous period.
The country’s GDP slipped by 0.8% year-on-year in the third quarter, compared to forecasts of a decline by 0.2%, and against 0.7% fall in the same quarter a year earlier, according to a Cabinet statement released Monday.
GDP also fell by 0.2% quarter-on-quarter, compared with 0% estimates, and against 0.3% fall in the second quarter.
The preliminary data means the world's third-largest economy has contracted for a second consecutive quarter, marking a technical recession.
