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Japan's first quarter GDP shrinks more than expected in setback for 'Abenomics'

Reuters  |  TOKYO 

By Stanley White and Leika KiharaTOKYO (Reuters) - Japan's economy contracted more than expected at the start of this year, breaking the longest run of growth seen for decades, in a blow to Prime Minister Shinzo Abe's reflationary 'Abenomics' polices.Wednesday's data marked the end to eight straight quarters of economic expansion, which was the longest sequence of growth since a 12-quarter run between April-June 1986 and January-March 1989 during the asset-inflated bubble economy.The economy shrank by 0.6 percent on an annualised basis, a much more severe contraction than the median estimate ...

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First Published: Wed, May 16 2018. 06:38 IST