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Japan Economy Weaker Than Estimated In Second Quarter

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Japan's economy contracted more severely in the second quarter than was initially estimated, revised government data has shown.

The economy shrank at an annual rate of 2.1% during the period, compared with the 1.3% drop reported previously.

The decline came as companies cut back spending due to concerns about a slowing global economy and a rising yen.

The data raised fresh concerns about the health of Japan's economy.

"As capital spending is unlikely to grow as strongly as previously thought, a rebound in gross domestic product in July-September may be smaller than initially thought, although gradual recovery is still expected," said Yuichi Kodama of Meiji Yasuda Life Insurance in Tokyo.

Luckily this won't affect the debt/GDP ratio....

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  • 429 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
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