Further Contraction Expected in Japan
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Associated Press
The Japanese government projected further economic contraction through the fiscal year ending in March, downgrading the previous forecast.
Japan’s gross domestic product--the value of goods and services produced in a nation--is expected to contract 0.9% in real terms, instead of growing 1.7% as initially forecast, the Cabinet Office said.
The revised forecast, the worst since the current GDP formula was set in 1980, is in line with those of private economists and the Bank of Japan.
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