TOKYO -- Japan's economy shrank 0.8% in the July-September period from the previous quarter, equal to an annualized pace of 3.0%, the Cabinet Office announced on Monday.
The economy struggled as exports fell and consumer spending remained sluggish amid the COVID-19 pandemic. The result compares with an average forecast of an annualized 0.56% decline, in a survey of 37 economists by the Japan Center for Economic Research.
