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Japan economy logs worst drop in over five years

Japan economy logs worst drop in over five years

Monday, February 17, 2020, 1:18 PM

Japan's economy suffered its worst quarterly contraction in more than five-years at the end of 2019 after a tax hike and typhoons, according to official data on Monday. The nation's gross domestic-product in the three-months to December shrank 1.6% from the previous quarter, before the novel coronavirus outbreak in China hit Japan. The drop was much worse than the one-percent contraction economists had expected.
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