"There's a high chance that Japan's economy will have two consecutive quarters of contraction through December"
- Yoshimasa Maruyama, chief economist at Itochu Corp.
Japanese leading index, which predicts the future direction of the economy, fell more than initially expected in September, a sign the world's third largest economy is decelerating. According to the Cabinet Office, nation's index of leading economic indicators tumbled to 91.7 in September, down from 93.2 in the previous month. The reading came below analysts' expectations of a fall to 91.8.
"There's a high chance that Japan's economy will have two consecutive quarters of contraction through December," said Yoshimasa Maruyama, chief economist at Itochu Corp. in Tokyo. "The slump in advanced nations is spreading to emerging economies."
"Companies are becoming more concerned about the outlook for the economy and their businesses," said Yoshimasa Maruyama, chief economist at Itochu Corp. in Tokyo.
The Nikkei 225 Stock Average grew 0.03 per cent, or 2.96 points, to 8,978.11. The broader Topix Index gained 0.17 per cent, or 1.25 points, to 7746.13.
© Dukascopy Bank SA