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Japanese economy shrinks 1.8% in April-June period

  • The Japanese economy shrank 1.8% from April to June, doing worse than expected and raising questions about Prime Minister Shinzo Abe’s economic policies.

    The new numbers are being blamed partly on a consumer sales tax that was introduced in April.

    Recently released data revealed that households in Japan spent less in July while factory output did not change. Akira Amari, the economy minister, has said a stimulus package to dilute the effect of a second possible sales tax may be introduced.

     

    Tagged as: Japanese economy, Shinzo Abe, economic policies, consumer sales tax, households, factory output, Akira Amari, business news