CLOSINGS AND DELAYS:

Anna Local Schools, Ansonia Local Schools, Ascension School, Auglaize Industries, Beavercreek City Schools, Bellbrook-Sugarcreek Schools, Benjamin Logan Local Schools, Bethel Local Schools, Bethlehem Lutheran School, BetterLiving @ Kuntz Center, Botkins Local Schools, Bradford Schools-Miami Co, Cardio Pulmonary Wellness-Spngfld, Carlisle Local Schools, Carroll High School, Catholic Central School, Cedar Cliff Local Schools, Celina City Schools, Chaminade Julienne H.S., Christian Academy-Sidney, Clark Preparatory Academy, Clark-Shawnee Local Schools, Cliff Park High School, Clinton County Head Start, Coldwater Exempted Village Schools, Community Christian School, Covington Exempted Village Schools, Crossview Christian Tuesday School, DECA Middle, DECA Prep, Dayton Barber College, Dayton Business Technology High School, Dayton Early College Academy, Dayton Job Corps Center, Dayton Leadership Academies, Dayton Public Schools, Dayton Regional STEM School, Dominion Academy of Dayton, East Dayton Christian School, Emerson Academy of Dayton, Emmanuel Christian Acad.-Spngfld, Fairborn City Schools, Fairlawn Local Schools, Faith Preschool, First Baptist Fairborn Wee School, Fort Loramie Local Schools, Fort Recovery Local Schools, GCESC Programs Bellbrook Site, Germantown Christian Schls., Global Impact STEM Academy, Graham Local Schools, Greene County Career Center, Greene County Learning Center, Greeneview Local-Jamestown, Greenon Local Schools, Greenville City Schools, Guiding Shepherd Christian School, Hardin-Houston Local Schools, Holy Angels in Dayton, Horizon Sci. Acad-Dayton Downtown, Horizon Science Acad.-Elementary, Horizon Science Acad.-H.S., Huber Heights Schools, Imagine Schools-Dayton, Immaculate Conception School, Indian Lake Local Schools, Jackson Center Local Schools, Lebanon Christian School, Lebanon City Schools, Legacy Christian Academy, Lehman High School, Liberty High School, Life Skills High School-Dayton, Mad River Local Schools, Marion Local Schools, Mechanicsburg Exempted Schools, Miami East Local Schools, Milton Union Schools, Minster Local Schools, Mississinawa Valley Local Schools, Montgomery Preparatory Academy, Mother Brunner Sch./Precious Blood, Mound Street Academies, Ms. Shelly Place Academy, New Bremen Local Schools, New Knoxville Local Schools, Newton Local Schools, Nicholas School, Nightingale Montessori School, North Dayton School of Discovery, Northeastern Local Schools, Northridge Schools, Northwestern Local Schools, Ohio Hi-Point Career Center, Our Lady of Rosary School-Dayton, Pathway School of Discovery, Piqua Catholic School, Piqua City Schools, RT Industries, Randolph Eastern School Corp, Randolph Southern School Corp., Rehab Center & Neuro Devel, Richard Allen Schools, Risen Christ Lutheran School, Riverside Local Schools-Logan Co, Russia Local Schools, S and H Products, Salem Christian Academy, Senior Center of Sidney/Shelby Co., Shelby Hills E.C.C, Sidney City Schools, Sidney Holy Angels, Southeastern Local Schools, Spin-Kemp Christian Preschool, Springboro Community Schools, Springfield Christian School, Springfield City Schools, Springfield Prep. & Fitness Acad., Springfield-Clark CTC, St. Anthony Elementary, St. Benedict the Moor Catholic School, St. Brigid School, St. Helen School, St. Henry Local Schools, St. Luke School, St. Marys City Schools, St. Patrick's in Troy, St. Peter Catholic School-Huber Heights, St. Peter Early Childhood H. Heights, Summit Academy Community School - Dayton, Summit Academy-Xenia, Tecumseh Local Schools, Temple Christian School Dayton, The Modern College of Design, Thursday School of Troy, Tri-Village Schools, Triad Local Schools, Trotwood Prep-Fitness Acad., Troy Christian Schools, Troy City Schools, Upper Valley Career Center, Urbana City Schools, Vandalia Butler City Schools, Versailles Village Schools, Victory Christian School-Urbana, Wayne Local Schools, West Liberty-Salem Local Schools, Wilmington City Schools, Xenia Community Schools, Yellow Springs Schools,

breaking news

TRAFFIC ALERT

WEATHER ALERT

live video

Japan's economy contracts 2.5 pct in 3Q on weaker spending

Published: Sunday, December 09, 2018 @ 10:17 PM
Updated: Sunday, December 09, 2018 @ 10:17 PM


            In this July 11, 2018, photo, a worker sprays water next to heavy machineries at a construction site in Tokyo. Japan’s economy shrank at an annualized rate of 2.5 percent in July-September, a worse contraction than preliminary data indicated last month, the government said Monday, Dec. 10, 2018. (AP Photo/Shuji Kajiyama)
In this July 11, 2018, photo, a worker sprays water next to heavy machineries at a construction site in Tokyo. Japan’s economy shrank at an annualized rate of 2.5 percent in July-September, a worse contraction than preliminary data indicated last month, the government said Monday, Dec. 10, 2018. (AP Photo/Shuji Kajiyama)

Japan's economy shrank at a worse than anticipated annualized rate of 2.5 percent in July-September due to weaker consumer demand and corporate investment.

The revised figure released Monday was more than double the 1.2 percent contraction reported earlier. Economists say the setback for the world's third-largest economy is likely temporary.

The data from the Cabinet Office shows the seasonally adjusted gross domestic product — the total value of a nation's goods and services — dipped 0.6 percent in the third quarter from the previous quarter.

Content Continues Below

Japan's economy returned to expansion in the April-June quarter but contracted in the quarter before that. That contraction ended the longest straight period of expansion for Japan in nearly three decades.

Yoshimasa Maruyama, chief market economist at SMBC Nikko Securities in Tokyo, said the new data requires a revision of assessments about economic growth and investment.

"But the overall trend of economic growth continues," he said in a report, noting that recent natural disasters had crimped growth.

Natural disasters weighed on consumer travel and spending, which means growth could recover if such events don't occur during the year's final quarter.

The closure of a major airport in the western Kansai area after a typhoon was among the factors that hurt in the third quarter. A major earthquake also hit the northernmost island of Hokkaido during the quarter, causing deadly landslides and widespread blackouts.

Until recently, Japan had been experiencing moderate growth under Prime Minister Shinzo Abe's "Abenomics" policies based on a deflation-fighting stimulus program of cheap lending. The nation's continuing labor shortage and slow wage growth are also taking a toll.

Uncertainty over the outlook for exports is another concern, since Japanese companies face direct effects of trade friction with the U.S. and indirect impacts as suppliers to Chinese manufacturers hit by tariffs on Chinese goods exported to the U.S.

Abe's attempts to help women join the workforce are showing only gradual results. Parliament passed a law over the weekend allowing more immigrant workers into Japan starting in April.

Convincing Japanese companies to invest more, both in hiring and in other areas, would be key to long-term sustainable growth but has proven elusive in a market where demand is expected to shrink in the long term as the population ages and shrinks.

Stefan Angrick of Oxford Economics said he still expects the slowdown to be temporary, and is "cautiously optimistic" about domestic demand.

"Nonetheless, today's outcome does suggest some downside risks to our 2018 GDP growth forecast of 1 percent and may indicate that the investment cycle is close to peaking," he said in a commentary.

___

Yuri Kageyama is on Twitter at https://twitter.com/yurikageyama

On Instagram at https://www.instagram.com/yurikageyama/?hl=en