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Japan's Economy Contracts Amid Weak Consumption and Declining Investment

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Source: Financial Times
TL;DR

Japan's economy has contracted as weak consumption undermines its recovery, with the country's GDP shrinking by an annualized rate of 5.1% in the first quarter of 2021. The decline in consumer spending, which accounts for more than half of Japan's economy, is attributed to the ongoing impact of the COVID-19 pandemic and the government's efforts to contain the virus. This setback poses a challenge to Prime Minister Yoshihide Suga's goal of achieving a strong economic rebound ahead of the Tokyo Olympics.

Topics:top-newseconomy#contraction#economy#japan#recovery#weak-consumption
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  1. Japan's economy contracts as weak consumption undercuts recovery  Financial Times
  2. Japan's economy shrinks far more than expected in third quarter  CNBC
  3. Japan's Economy Shrinks More Than Expected Amid Weak Yen, Inflation  Bloomberg Television
  4. Japan's economy sinks into contraction as spending, investment decline  The Washington Post
  5. Japan's Economy Shrinks, Backing BOJ and Govt's Stimulus Case  Bloomberg

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