APN News

  • Saturday, November, 2022| Today's Market | Current Time: 01:48:57
  • Japan’s economy contracted more than expected in the last three months of 2011 as a rising yen and floods in Thailand hurt businesses.

    Gross domestic product shrunk by 2.3 per cent during the period from a year earlier, much worse than 1.4 per cent contraction that analysts had forecast.

    Compared with the previous three months, the economy shrank by 0.6 per cent. The numbers are a big blow to Japan’s efforts to recover from the earthquake and tsunami last year.

    The slowdown of exports is taking a heavy toll on industry. The data comes amid concerns of a slowdown in the global economy.

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