Monday, November 17, 2008
Japan's economy has entered its first recession since 2001
Japan's economy has entered its first recession since 2001 after shrinking by 0.1% in the third quarter.
The world's second-biggest economy had previous shrunk by 0.9% in the April to June quarter.
"The downtrend in the economy will continue for the time being as global growth slows," said Japanese Economy Minister Kaoru Yosano.
The eurozone officially slipped into recession last week, and the US is expected to follow.
Posted by nickglais at 6:52 AM