EU confirms the economy fell 0.1 percent in third quarter . Japan 's gross domestic product has fallen by 0.1 percent the last two months . Major indexes around the globe have plummeted over third quarter . TOKYO , Japan ( CNN ) -- Japan -- the world 's second-largest economy -- is in a recession , government officials announced Monday . Cabinet Office declared last week that the 15-nation group had entered into a recession .
EU confirms the economy fell 0.1 percent in third quarter . Japan 's gross domestic product has fallen by 0.1 percent the last two months . Major indexes around the globe have plummeted over third quarter . Cabinet Office declared last week that the 15-nation group had entered into a recession .