Japan July-Sept GDP shrinks 0.2%, second straight quarterly fall

Japan's economy slipped into recession for the second time since Prime Minister Shinzo Abe came to power nearly three years ago on a vow to revive growth and end chronic deflation, government figures showed Monday. Japan's economy, once Asia's biggest, has been overtaken by giant neighbour China in size, while the smaller country struggles with a challenging demographic outlook that is expected to see its population shrink by the tens of millions in coming decades. The Cabinet Office announced t