Japan’s economy contracted a bigger-than-expected 0.5 percent in the three months to September, official data showed Wednesday.
The data, released by the Cabinet Office, was worse than market expectations of a 0.1 percent contraction in the world’s number three economy.
Private demand, including private residential and corporate investment, was down 0.6 percent.
Exports grew just 0.5 percent, compared with 3.9 percent in the previous quarter. Imports were up 1.0 percent.
The contraction is further bad news for Prime Minister Fumio Kishida, whose poll ratings have hit their lowest levels since taking office two years ago.—AFP
