Fri, 18 Jan 2019
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Japanese Economy Experiences the Worst Downturn in Four Years

Voice of America
10 Dec 2018, 21:05 GMT+10

Japan's economy contracted 2.5 percent in the third quarter of this year, July-September, which marks the worst downturn in the past four years.

The revised data released Monday was more than double the initial estimate of a 1.2 percent contraction.

The slide is in part driven by a series of natural disasters that hit Japan, which forced factories to cut production, and contributed to lower consumer demand and corporate investment. To a lesser extent, the U.S.-China trade dispute has had its impact on Japanese economy.

The adjusted gross domestic product, the total value of a nation's goods and services, also dipped 0.6 percent in the third quarter compared to the previous one, according to the data released from the Cabinet Office.

Economists, however, say that the setback for the world's third-biggest economy is likely temporary.

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