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Japanese economy to shrink first time since 2015 on weak consumer spending

The global economy also has remained firm, suggesting Japan will regain traction in the second quarter

Reuters  |  Tokyo 

Japan's economy is expected to have contracted for the first time in two years in the first quarter due to weak private consumption and softer export demand, a Reuters poll showed on Friday. A negative reading, while slight, would snap Japan's longest period of economic expansion -- eight straight quarters of growth - since its 1980s bubble economy. But analysts said the expected January-March weakness may be only a temporary soft patch, arguing that higher prices for fresh vegetables and bad winter weather likely weighed on consumer spending in the quarter. The ...

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First Published: Fri, May 11 2018. 13:36 IST