Japan’s economy narrows by 1.2% in Q3

By Gokhan Ergocun

ISTANBUL (AA) - The Japanese economy has shrunk by 1.2% in the third quarter of this year, posting the first contraction in four quarters.

The negative figure came against the market expectations of an expansion of 1.2%, according to Kyodo News Agency.

It said that accelerating inflation had an impact on consumer sentiment, adding that gaining imports, faster than exports, also affected the GDP figures

The country's annual inflation was at 3% in September, the highest in eight years.