Japanese economy contracted in July

Japanese economy contracted in July–Sept

By Agence France-Presse

Nov 16, 2022 12:18 am

TOKYO: Japan's economy shrank in the third quarter on account of slower-than-expected consumption, official data showed on Tuesday, dashing hopes of another quarter of growth.

Higher import volumes and costs fueled by the weak yen and the soaring price of commodities, such as oil, weighed on the world's third-largest economy.

Customers walk into a store at a shopping center in Japan’s capital Tokyo on Aug. 17, 2020. AP FILE PHOTO

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