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Japan's Third Quarter GDP Shrinks By 3% Year-on-year

Japan's Third Quarter GDP Shrinks By 3% Year-on-year

Japan’s third-quarter GDP announced several times that the Japanese economy contracted 3% year-on-year in that quarter. It also shrank by 0.8% quarter-to-quarter. In the face of economic contraction in the third quarter, the market's expectations of the Japanese government's short-term stimulus measures have risen. According to Nikkei News, the Japanese government plans to announce an economic stimulus package of up to 40 trillion yen (about 350 billion U.S. dollars) as early as the 19th of this month, which may boost the local economy and the yen's prospects.

Source: tradingeconomics.com 
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