Abe Re-Election Bid Seen Unfazed by Japan’s Deepening Recession
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Japan’s recession is deepening, though the bad economic news doesn’t seem to be damping Prime Minister Shinzo Abe’s chances of increasing his parliamentary majority in snap elections this month.
A final report on growth in the world’s third-largest economy today showed a contraction of 1.9 percent in the third quarter. That’s more than the preliminary estimate of 1.6 percent announced on Nov. 17, the day before Abe called the elections and asked voters for a new mandate to cure the country’s economic ills.