Japan's economy enters recession

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Japan's economy unexpectedly shrank for the second consecutive quarter, marking a technical recession in the world's third largest economy.

Gross domestic product (GDP) fell at annualised 1.6% from July to September, compared to forecasts of a 2.1% rise, the BBC reports. That followed a revised 7.3% contraction in the second quarter, which was the biggest fall since the March 2011 earthquake and tsunami. Economists said the weak economic data would likely delay a sales tax rise. Prime Minister Shinzo Abe is widely expected call a snap election to seek a mandate to delay an increase in the sales tax to 10%, scheduled for 2015. The tax increase was legislated by the previous government in 2012 to curb Japan's huge pub...

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