TOKYO, November 16. /Corr. Vasily Golovnin/. Japan’s economy went into recession – gross domestic product (GDP) declined for the second consecutive quarter. About it on Monday reported the country’s government.
In July-September of the current year GDP decreased in annual terms by 0.8%. In the second quarter GDP shrank by 0.7%. Important factors for the decline was the increase of negative trends in China’s economy and overall weak global demand for commodities, forcing Japanese businesses cut investment and production.
At the same time in the third quarter by 0.5% increase in domestic consumer demand, which contributes 60% of GDP. In this regard, the Minister for economic recovery Akira Amari told reporters that he expected growth in gross domestic product in October-December 2015.
In this case, the weak figures may force the Bank of Japan to take additional measures to stimulate the economy. A meeting of the leadership of this key monetary authority of the country is expected this week.