Japan economy probably shrank in Q2 for first time in 2 years

Japanese GDP data to be released on Aug 13 is expected to show the economy shrank at an annualised 7.1% in the Q2, a Reuters poll of 25 economists predicted. Meanwhile BoJ Governor Haruhiko Kuroda is maintaining an upbeat economic view despite recent soft data - EPA Photo.

TOKYO: Japan's economy probably shrank for the first time in nearly two years during the April-June quarter, dragged down by weaker-than-expected consumer spending after a sales tax hike and disappointing factory output, a Reuters poll showed.

Exports, a main driver in the economy, also remained sluggish due to weak demand from emerging nations.