Sunday, November 16, 2014

Japan makes it official

TOKYO (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 just two years after he took office.
Gross domestic product fell at an annualised 1.6 percent pace in the July-September period, after it plunged 7.3 percent in the second quarter following a rise in the national sales tax.

Reinhart-Rogoff, where are you?

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