TOKYO -- Japan's economy shrank an annualized 2.1% in the July-September period from the previous quarter, according to preliminary figures released on Wednesday by the Cabinet Office, marking the first contraction in three quarters.
Economy
Japan's GDP shrank in Q3 as inflation saps consumer demand
Annualized 2.1% contraction reflects weak consumption and investment
A shopper looks for an air conditioner at a Tokyo electronics store in July. Inflation continued to bite Japanese consumers in the third quarter. (Photo by Mayumi Tsumita)
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