Japan's economy likely shrank at the fastest pace since 2014 in the Decembe...
TOKYO - Japan’s economy likely shrank at the fastest pace since 2014 in the December quarter as a sales tax hike and a typhoon dented consumer spending and sluggish exports hit capital expenditure, a Reuters poll showed on Friday.
Gross domestic product is expected to have contracted an annualized 3.7% in the October-December quarter, the poll found, having grown 1.8% in the third quarter. “Manufacturers’ production and earnings were weak due to falls in exports, and employment and wages recovery slowed. We see the trend of consumer spending was weak,” said Kentaro Arita, senior economist at Mizuho Research Institute.
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