Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook

Victim of Naked Face-Eater Fights for Life Miami police are quiet on details in the aftermath of gruesome attack »

Japan Sinks Into Recession

Economic downturn could last a year

By Peter Fearon, Newser Staff

Posted Nov 17, 2008 2:39 AM CST

(Newser) – The financial crisis rippling through the global economy has claimed another casualty as Japan has slipped into its first recession in seven years, Reuters reports. Third quarter statistics reveal a 0.1% contraction in Japan's Gross Domestic Product. Japanese economists warn the nation could languish... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Victim of Naked Face-Eater Fights for Life

Reuters (Source Grid »)
Bloomberg (Source Grid »)

Japan's economy is in recession, government says
Washington Post

Japan's economy, world's second largest, is in recession
New York Times

Money • World

Japan • recession • GDP • Nikkei • Bank of Japan • Japanese economy • G20 • eurozone • Kaoru Yosano

More Newser Stories

Japan Pumps Cash Into Market

Interest rate hikes unlikely

(NEWSER) - The Bank of Japan pumped $5.1 billion into the Japanese financial system today as the global credit crunch continued to ripple through the Asian markets, Bloomberg reports. Adding to the jitters, Japan's growth is slowing more markedly than economists predicted; the world's second-largest economy expanded by only 0.5% in the last quarter, compared to 3.2% the previous quarter. More»

US Trading Partners See Huge GDP Falls

Mexico contracts 21.5% as American demand dries up

(NEWSER) - Yesterday Mexico became the latest country to disclose a sharp economic contraction as a result of the slowdown in US consumption of imported goods. Mexican GDP fell at an annualized rate of 21.5% in the first quarter, following Germany, down 14.4%, and Japan, 15.2%—its worst performance since 1955. As the Wall Street Journal reports, declining US demand is taking severe effects on exporting nations. More»

Japan May Buy Stocks to Rescue Tanking Market

Government prepares to act as indexes hit 26-year low

(NEWSER) - The Japanese government said today that it might intervene to prop up the stock market, as the country's two main indexes approached their lowest levels in 26 years. The continued decline of the Nikkei and Topix—down 18% this year alone—has endangered Japan's banks, which hold a substantial amount of stock as capital, reports the Financial Times. More»

Japan Economy Shrinks by Most in 35 Years

4th-quarter contraction of 3.3% was 3 times worse than US

(NEWSER) - Japan's economy contracted by a shocking 3.3% in the fourth quarter of 2008, three times worse than the US and the worst performance in 35 years. The Financial Times reports that a sharp drop in exports contributed to the slump—the third straight quarter of negative growth. The figures released today put pressure on the government and the Bank of Japan, which has already cut interest rates to just 0.1%. More»

Pass the Bailout, Or Else We'll Become Japan

Its decade of decline shows the risks of inaction: Kristof

(NEWSER) - Watching the House vote down the bailout package this week, Nicholas Kristof recalled a bad memory: Japanese politicians doing the same thing during the financial crisis of the 1990s. The New York Times columnist, who was then based in Tokyo, watched as a desire to punish "corrupt, profligate, and unsympathetic" bankers ushered in a decade-long decline, from which Japan has still not fully recovered. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Japan Sinks Into Recession

Economic downturn could last a year

Japan • recession • GDP • Nikkei • Bank of Japan • Japanese economy • G20 • eurozone • Kaoru Yosano

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Japan Pumps Cash Into Market

Interest rate hikes unlikely

US Trading Partners See Huge GDP Falls

Mexico contracts 21.5% as American demand dries up

Japan May Buy Stocks to Rescue Tanking Market

Government prepares to act as indexes hit 26-year low

Japan Economy Shrinks by Most in 35 Years

4th-quarter contraction of 3.3% was 3 times worse than US

Pass the Bailout, Or Else We'll Become Japan

Its decade of decline shows the risks of inaction: Kristof

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?