Japan’s Economy Shrinks, in a Setback for Lame ‘Abenomics’

Japan’s economy contracted more than expected at the start of this year, breaking the longest run of growth seen for decades, in a blow to Prime Minister Shinzo Abe’s “Abenomics” polices.
Wednesday’s data marked the end to eight straight quarters of economic expansion, which was the longest sequence of growth since a 12-quarter run between April-June 1986 and January-March 1989 during the asset-inflated bubble economy.
The economy shrank by 0.6 percent on an annualized basis, a much more severe contraction than the median estimate for an annualized 0.2 percent.
Fourth quarter growth was revised to an annualized 0.6 percent, down from the 1.6 percent estimated earlier.

Economists say the contraction will be temporary, but there is a risk that trade friction with the United States will hurt export demand, meaning a strong recovery is not assured.

https://www.nytimes.com/2018/05/15/business/japan-economy-shrinks.html

Japan’s Economy Shrinks, in a Setback for Lame ‘Abenomics’

Japan’s Economy Shrinks, in a Setback for Lame ‘Abenomics’

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