Japan's economy will enter recession next year as export growth slows, according to Japanese economist Marcel Thieliant.

(Reuters)

[Financial Channel/Comprehensive Report] Capital Economics Japan Economist Marcel Thieliant said that according to Capital Economics data, as export growth slows down, we believe the Japanese economy will enter a recession next year.

Thieliant said recessions were largely driven by falling exports and curtailed consumption, which is typically what is seen when exports start to fall.

According to Japan's recently announced October trade deficit of 15 billion US dollars, higher than expected.

Exports rose 25.3%, down from an annual increase of 28.9% in September.

Imports, meanwhile, rose 53.5 percent year-on-year in October, up from a 45 percent rise the previous month.

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In addition, Japan is scheduled to release revised third-quarter GDP on Thursday (15th).

Analysts polled by Reuters had forecast an annualized contraction of 1.1% in the July-September period, following a contraction of 1.2% in the previous quarter.

This means that we are headed towards what is usually categorized as a technical recession, i.e. 2 consecutive quarters of negative growth.

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