Japan’s Q3 GDP unexpectedly shrinks as soaring inflation, global slowdown take toll

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Reuters UK

By Tetsushi Kajimoto TOKYO (Reuters) -Japan’s economic system unexpectedly shrank within the third quarter, the primary contraction in a 12 months as cooling world development and better import prices took a toll on family consumption and enterprise exercise. Hovering world inflation and recession dangers in addition to a weak Japanese yen and sweeping rate of interest will increase worldwide have undermined the post-COVID restoration on the planet’s third-biggest economic system. Gross home product fell an annualised 1.2% in July-September, official information confirmed, in contrast with economists’ median estimate for a 1.1% enlargement and a revis…

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