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Japan's GDP shrinks 1.6 percent in Q3

  •   Mon, Nov 17 2014 06:55:51 PM

Tokyo, Nov 17 (IANS): Japan's gross domestic product shrank an annualized 1.6 percent in the third quarter of 2014, according to government data released Monday.

The data also said that real GDP of Japan in the reporting quarter was down 0.4 percent from the previous quarter, Xinhua reported.

The data is an important indicator for Prime Minister Shinzo Abe to decide whether to carry out the second round of sale tax hike from 8 percent to 10 percent in October next year.

The Japanese economy contracted an annualized 7.1 percent in the second quarter following the first round of tax increase April 1 from 5 percent to 8 percent.

  

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Title: Japan's GDP shrinks 1.6 percent in Q3



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