Japan , the world’s second-largest economy is in a recession officially.
Japans gross domestic product has fallen by 0.4 percent this year, pushing Japan into its first recession since 2001.
Japan joined Germany and Italy on the list of major economies that are now officially in recession.
The last time Japan fell into recession was in 2001 after the Internet bubble burst.
The official technical definition of recession is 2 consecutive quarters of negative growth in a nation’s GDP ( gross domestic product ).
Recession usually followed by several quarters of slowing but positive growth in GDP.
The U.S. economy shed 80,000 jobs in March 2008, the U.S. Labor Department announced Friday — the unemployment rate rose to the highest level since September 2005, pointing to an economy that may already be in a recession.
The unemployment rate rose from 4.8 to 5.1 percent in March according to the Department of Labor reports.
The US economy may have slid into a recession according to the latest US unemployment figures – released on Friday which showed the number of people laid off last month at its highest for five years.
February job losses were the biggest in nearly five years — US employers cut 63,000 positions from their payrolls in February.
Coca-Cola‘s quarterly sales in North American restaurants and other food service outlets declined 3 % due to economic pressures and recession fears.
But, Coke had seen its highest growth since 1998, with strong growth in emerging markets including (BRIC Countries )China, India, Russia and Brazil.
Following IBM and TCS, Yahoo India, asked 45 employees in Bangalore to quit. Yahoo India claimed that it was a routine process and more poor performers would be sacked from the job.
Yahoo! India R&D operations have a total headcount of 1,500 in Bangalore. Job cuts were primarily in the R&D division.