Japan Likely Relapsed Into Contraction

From bloomberg.com

Japan’s rebound from the aftermath of a record earthquake was probably cut short in the fourth quarter as the impact of Europe’s crisis outweighed the support from reconstruction spending. Gross domestic product (JGDPAGDP) probably shrank in October and November, pointing to a 0.1 percent contraction for the quarter, according to calculations by the Japan Center for Economic Research, an independent analysis group in Tokyo. JPMorgan Chase & Co. is among banks cutting projections for GDP in the period. “It was a very tough quarter for the Japanese economy,” said Yuki Masujima, a senior economist ... (full story)