02-17-2020, 12:53 PM
Quote:Japan said on Monday that its economy had shrunk at an annualized rate of 6.3 percent in the three months that ended in December, the worst contraction since mid-2014. The results predated the virus epidemic but were affected by a monthslong slump in Chinese demand for Japanese exports.Japan’s Economy Shrank Sharply. Now Comes the Coronavirus. - The New York Times
Officials had been optimistic that an easing of the effects of Typhoon Hagibis and the consumption tax increase would return the country to growth as the new year began. But then the coronavirus began its deadly spread in China, halting the lucrative flow of tourists from that country and further imperiling Japanese exports.