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Japan

Deep recession on the cards

TOKYO: Japan’s household spending plunged in March and service-sector activity shrank at a record pace in April, reinforcing expectations that the coronavirus pandemic is tipping the world’s third-largest economy into deep recession.

Economy

Japan’s Q4 GDP shrinks faster

TOKYO: Japan’s economy shrank faster than initially estimated in the fourth quarter on a bigger decline in business spending, casting a deeper shadow over the outlook as the coronavirus hit production and heightened recession risks.