JAPAN'S ECONOMY SLUMPS IN 3RD QUARTER

Japan's economy grew an annualized 0.2% in the third quarter, slowing sharply from a revised 1.8% expansion in April-June, preliminary gross domestic product (GDP) data released by the government showed on Thursday.
 
It fell well short of a median market forecast for a 0.8% gain and marked the weakest growth since a 2.0% contraction in July-September last year, Reuters reported. 

“Domestic demand had made up for some of the weakness in external demand, but we can’t count on this to continue,” said Taro Saito, an executive research fellow at NLI Research Institute.

“A contraction in October-December GDP is a done deal. The economy may rebound early next year, but will lack momentum.”