Sunday 24 October 2021, 06:04 AM
Japan's GDP shrinks 1.6 percent in Q3
By IANS | Bharat Defence Kavach | Publish Date: 11/17/2014 12:00:00 AM

 Tokyo:  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. 

--Indoi-Asian News Service
ab/dg

 

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Japan's GDP shrinks 1.6 percent in Q3

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