Japan's third quarter recession deeper than estimated

Japan's economy shrank more than initially estimated in the third quarter of 2014, according to revised gross domestic product (GDP) figures.

The economy contracted by 1.9% in annual terms from July to September, well above a preliminary reading of 1.6%.

It also shrank 0.5% on a quarterly basis, compared with an initial estimate of 0.4%, data showed.

A big fall in business spending plunged the economy into a deeper recession.

The revised figures, which come just days before Japan's national elections, showed that

Brazil's economy falls into recession, latest figures show

Brazil has fallen into recession, just a month before the general election, latest figures show.

Economic output, GDP, fell by 0.6% in the three months to June, worse than analysts had predicted, and revised figures for the first quarter of the year also showed a fall of 0.2%.

A recession is usually defined as two consecutive quarters of contraction.

The news will be damaging for the government of President Dilma Rousseff.

According to the most recent poll, Ms Rousseff would lose to a rival candidate, environmentalist Marina Silva, if October's election went to a second round.

The World Cup, held in June and July, was not regarded as generally good for business, says the BBC's Wyre Davies in Rio de Janeiro.

"There were more days off for employees

South Africa economy avoids recession

South Africa has avoided being tipped into recession after second-quarter GDP figures showed the economy grew by 0.6% during the April-to-June period.

The economy had contracted by 0.6% in the first quarter. A platinum strike in the country was blamed for the poor performance in the first three months.

South Africa was last in recession in 2008 amid the global financial crisis.

By 2011 it had made a