Japan GDP shrinks

May 21, 2009, Thursday |

Print Edition

JAPAN'S economy contracted by a 15.2-percent annual pace in the first quarter - its sharpest drop on record - as exports plunged, companies slashed production and families cut back on spending, the government said yesterday.

But the outlook is hopeful. Economists say the world's second-largest economy was most likely past the worst, and some predicted it would grow in the April-June quarter.

Economy

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Japan GDP shrinks

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