Japan: Economy Shrinks 2.4%; Recession Looms

Aug. 13 (Bloomberg) — Japan’s economy, the world’s second biggest, contracted last quarter as exports fell and consumers spent less, bringing the country to the brink of its first recession in six years.Gross domestic product shrank an annualized 2.4 percent in the three months ended June 30 after expanding 3.2 percent in the first quarter, [...] continue reading world news