Japan's economy shrinks after sales tax rise

There had been fears a higher sales tax may hurt domestic consumption Japan's economy contracted by an annualised 6.8% in the second quarter of the year, the biggest fall since 2011 when it was devastated by an earthquake and tsunami. The official gross domestic product (GDP) figure though was smaller than the 7.1% drop economists expected. The shrinkage was largely in response to a government sal

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うーむ

[o-kojo2]

Recent retail sales and factory output figures both indicated a negative impact from the sales tax rise.

[osaan]

想定内。http://goo.gl/7GFhMw