Japan Plunges Back into Recession

The recent twin disasters and a nuclear crisis that wreaked havoc on Japan pushed the nation back into recession in the January-March period, says an Agence France-Presse report published by the Straits Times.

 

Japan's economy contracted by a much worse-than-expected annualised 3.7 percent in the first three months of the year.

 

Citing analysts, the AFP report says the downturn is expected to get worse in the April-June period as supply chain problems disrupt production.

 

As a result of the disasters, output saw its biggest ever fall and spending plunged while consumer and business confidence declined.


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