Japan lurches towards recession after tax shock
As the coronovirus spreads, Prime Minister Shinzo Abe may have to consider another round of extra spending to support growth
17 February 2020 - 20:24
Tokyo — Japan’s economy lurched towards a possible recession after taking another battering from a sales-tax hike in the last quarter that left it at a low ebb as the coronavirus outbreak hit activity at the start of 2020.
Japan’s GDP shrank at an annualised pace of 6.3% from the previous quarter in the three months through December, the biggest slide since a previous tax increase in 2014, according to a preliminary estimate by the Cabinet Office on Monday...
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