STOCK MARKET WATCH -- Monday, 12 November 2012 (Holiday -- US markets closed)

[xchrom]

23. Japanese economy contracts; economists, officials predict a recession

http://www.washingtonpost.com/world/japanese-economy-contracts-economists-officials-predict-a-recession/2012/11/12/e4c1ad34-2ca8-11e2-a99d-5c4203af7b7a_story.html

TOKYO — Japan’s economy contracted 0.9 percent in the late summer, according to government data released Monday, as officials and economists here warned that the country appears headed toward a recession.

At an annualized rate, Japan’s gross domestic product shrank 3.5 percent, a reversal following two quarters of growth. The drop-off signals the major obstacles facing the world’s third-largest economy as it deals with weakened demand in Europe and a simmering diplomatic spat with China, both of which have hurt Japanese exports.

Japan’s exports for the quarter — a period between July and September —plummeted 5.0 percent, the steepest drop since immediately after the March 2011 earthquake and tsunami.

“In part, this may have been due to the anti-Japan demonstrations in China and the subsequent boycott of Japanese goods,” Barclays Economic Research wrote in a note after the data was released.