Business

Japan's Economy Shrinks in Second Quarter

Japan's economy suffering its worst slump since the March 2011 earthquake. After a high profile start to Abenomics, the slowdown could be worrying proof his economic plan is running out of steam. Well, maybe not. Both Abe's government and economists were expecting a slowdown in the second quarter after an unusual hike in the country's sales tax. The GDP number was better than the consensus forecast of -7.1 percent. But it's still a hefty decline.

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