CNBC reports the economy of Japan has contracted for the second quarter in a row. For the economically challenged, a recession is two or more consecutive quarters of real GDP shrinkage.
The Zero Hedge website claims Japan is experiencing a triple-dip recession, see their chart for details. Ever since the go-go days of the 1980s ran out of steam, Japan has been in the economic doldrums. Hat tip to Drudge Report for the link.
As a BBC article notes, the Japanese economy is the world's third largest, making whatever happens there consequential for the world economy. Hat tip to Lucianne.com for the link.
