Japan's GDP fell a price-adjusted 3.5% on quarter in annualized terms in the July-September quarter, the Cabinet Office says. The on-quarter drop was slightly better than the 3.9% annualized drop forecast by economists polled by Dow Jones Newswires. Coming on the heels of other downbeat indicators, Monday's results could add to expectations that the world's third-largest economy may have entered recession, hit by a global slowdown and the strong yen. There had been expectations that the previous April-June quarter could also be revised to a negative number, putting the economy in a recession, but the new figure showed a small annualized growth rate of 0.3%. The USD/JPY is steady on the news at 79.45.
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