Japan Falls Into Recession for Second Time Under 'Abenomics'
- GDP data shows slumping business investment hurt the economy
- Report could put pressure on Abe, BOJ's Kuroda for action
Japan Needs 'Aggressive' Structural Reforms: Boubouras
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Japan’s economy contracted in the third quarter as business investment fell, confirming what many economists had predicted: The nation fell into its second recession since Prime Minister Shinzo Abe took office in December 2012.
Gross domestic product declined an annualized 0.8 percent in the three months ended Sept. 30, following a revised 0.7 percent drop in the second quarter, meeting the common definition of a recession. Economists had estimated a 0.2 percent decline for the third quarter.