12 Nov 2012

Japan's economy contracts

9:49 pm on 12 November 2012

Japan's economy contracted in the September quarter, as a global economic slowdown and anti-Japanese protests in China hurt its exports, while domestic consumption remained subdued.

Gross domestic product contracted 3.5% from a year earlier, the ABC reports.

Compared with the previous three months, the economy contracted 0.9%.

The weak data is likely to put pressure on the government to boost stimulus measures to spur growth.

Japan's economy, the world's third-largest, has been trying to recover from last year's earthquake and tsunami, which caused widespread destruction.