(11/13/12) Japan's economy threatens return to recession

Japan's economy shrank 3.5% in the third quarter and is poised to contract in the fourth quarter. The effect would be felt in California and elsewhere

By David Pierson and Don Lee, Los Angeles Times November 13, 2012 Already hurt by troubles in Europe and significant slowdowns in China and India, the U.S. and the global recoveries got another dose of bad news: Japan's long-sluggish economy is threatening to slide back into recession. The world's third-largest economy shrank 3.5% at an annualized rate in the third quarter ? the worst drop in gross domestic product since the country was battered by an earthquake and tsunami in March 2011. The unexpectedly grim report Monday out of Tokyo prompted analysts to scale back Japan's growth forecasts for the near term. Click here to read the entire article at the Los Angeles Times