Recession-hit Japanese economy shrinks again
- Published: 14 Feb 2013 at 08.19
- Online news: World
Japan's economy shrank for a third quarter at the end of 2012, data showed Thursday, leaving it mired in recession owing to weak export demand, but analysts and the central bank eyed a rosier outlook.
Pedestrians in Tokyo walk past an electronic board displaying the foreign exchange rate on February 13, 2013. Japan's economy shrank for a third quarter at the end of 2012, data showed Thursday, leaving it mired in recession owing to weak export demand, but analysts and the central bank pointed to a rosier outlook.
Tokyo saw a 0.1 percent contraction in October-December from the previous three months, underlining the work ahead for Shinzo Abe's new government as it tries to boost growth while fending off claims it is manipulating the yen to lift exports.
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