You are here: Home » Reuters » News
Business Standard

Japan slips into surprise recession, paves way for tax delay, snap poll

Reuters  |  TOKYO 

By Leika Kihara and Linda SiegTOKYO (Reuters) - Japan's economy unexpectedly slipped into recession in the third quarter, setting the stage for Prime Minister Shinzo Abe to delay an unpopular sales tax hike and call a snap election two years before he had to go to the polls.The recession comes nearly two years after Abe returned to power promising to revive the economy with his "Abenomics" mix of massive monetary stimulus, spending and reforms, and is unwelcome news for an already shaky global economy.Gross domestic product (GDP) shrank by an annualised 1.6 percent in July-September, after ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, November 17 2014. 14:28 IST