Japan upgrades economic growth

Japanese production falls sharply
Industrial output and consumer spending fall heavily in Japan as fears grow it is heading for a prolonged recession.

Japan keeps rates on hold at 0.3%
Japan's central bank keeps its key rate unchanged at 0.3% on Friday but warns of an uncertain outlook.

Singapore officially in recession
Singapore downgrades its economic growth figure, which confirms it was Asia's first country in recession in the current financial crisis.

Global liquidity crisis 'is over'
The head of Japan's leading brokerage, Nomura Holdings, suggests that the global liquidity crisis is over.

Japanese economy now in recession
Japan's economy falls into its first recession since 2001 after shrinking by 0.1% in the July to September quarter.