TOKYO: Japan’s economy suffered its biggest quarterly contraction since the 2011 quake and tsunami as a sales tax rise slammed the brakes on growth, according to data, throwing into question plans for another increase next year.
The 1.7% dip in gross domestic product for the second quarter – or a 6.8% contraction at an annualised rate – gave the clearest picture yet of the impact of the levy rise.
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