In "NYTimes.com":
TOKYO — Japan, the world’s second-largest economy, has officially slipped into recession, hurt by weak export growth and steep cuts in corporate spending amid the worsening global slowdown.
Japan’s gross domestic product shrank at an annual rate of 0.4 percent from July to September after declining a revised 3.7 percent in the previous quarter, the government said Monday. It was the first time since 2001 that Japan’s economy has contracted for two consecutive quarters, the definition of a recession.
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