The economy shrank an annualized real 1.9 percent in the third quarter, the government said Monday, reinforcing the view that the Japan slid into recession after April's consumption tax hike.
The July-September contraction in real gross domestic product — the total value of goods and services produced — is deeper than the 1.6 percent figure in the preliminary report on Nov. 17 and follows the revised 6.7 percent GDP plunge logged in April-June, corresponding to a 0.5 percent quarter-on-quarter decline, the Cabinet Office said.
The third quarter saw domestic demand languish after the consumption tax hike to 8 percent on April 1, adding to concern over the outlook for the economy as Prime Minister Shinzo Abe pitches his deflation-busting policy mix dubbed "Abenomics" in his campaign for Sunday's Lower House election.