Japan economy shrinks as firms cut capex, recession looms

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Japan's economy shrank in the September quarter for the first time since last year.  (Reuters) Japan's economy shrank in the September quarter for the first time since last year. (Reuters)
SummaryJapan's economy shrank in the September quarter for the first time since last year.

domestic demand won't increase enough to make up for the weakness in exports, he said.

The BOJ set a 1 percent inflation target and eased policy in February. It followed up with further stimulus based on asset buying in April, September and October on mounting evidence the economy was on the cusp of a recession.

The euro zone is expected to report on Thursday that the economy shrank by 0.2 percent in the third quarter, extending a 0.2 percent contraction in the second quarter.

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