Japan Admits It Has Entered A Triple-Dip Recession

Jon Alternative Media, Blogosphere, Economy

On Sunday we warned it would happen. Well, it happened.
From Goldman Sachs:
The Indexes of Business Conditions comprises leading, coincident, and lagging composite indices compiled from various economic statistics and market indicators. Since the components are already announced in advance, the composite indices come as no surprise as they can be estimated in advance. That said, the data release is closely watched as an indicator of potential turning points in the economy, as the Cabinet Office makes an assessment of the state of the economy based on the trend in the coincident CI, using a set of objective criteria that eliminates arbitrariness. Of the 11 indicators that make up the coincident CI, 8 made a negative contribution mom in August, as expected. The coincident CI fell 1.4 points in August to 108.5 from 109.9 in July. The three month average of the coincident CI declined 0.84 points, declining for 5 months in a row, and the 7-month average declined 0.87 points, a third month of decline in a row.

This post was published at Zero Hedge on 10/07/2014.