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BBC NEWS AMERICA Japan’s economy shrinks at fastest rate since 2014

Image copyright Getty Images Japan’s economy shrank at the fastest rate in five years at the end of 2019 as it was hit by a sales tax rise, a major typhoon and weak global demand.Annualised gross domestic product (GDP) fell by a much steeper than expected 6.3% in October-December.There are also concerns the coronavirus outbreak…

BBC NEWS AMERICA

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Getty Images

Japan’s economy shrank at the fastest rate in five years at the end of 2019 as it was hit by a sales tax rise, a major typhoon and weak global demand.Annualised gross domestic product (GDP) fell by a much steeper than expected 6.3% in October-December.There are also concerns the coronavirus outbreak will mean the slump continues this quarter.That has raised fears that the world’s third-biggest economy may fall into recession.During the period Japanese consumer spending fell
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