The Traderszone Network

Published in TZ Latest News 7 September, 2014 by The TZ Newswire Staff

Revised data show Japan second-quarter GDP shrank more than expected

Japan’s economy shrank an annualized 7.1 percent in April-June from the previous quarter, more than a preliminary estimate, underscoring concerns the hit from an April increase in the sales tax may have been bigger than expected. The revised contraction was the biggest since January-March 2009, when the global financial crisis hit Japan’s exports and factory output, keeping policymakers under pressure to expand fiscal and monetary stimulus should the economy fail to recover from the disruption of the April tax hike.