Severe Contraction and Falling Prices in Japan Signal Tough Test for Abenomics

February 15, 2016 1:18 AM

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Severe Contraction and Falling Prices in Japan Signal Tough Test for Abenomics

Japan’s economy shrank in the final three months of 2015, the government said on Monday, undergoing a more severe contraction than experts had expected amid signs that global growth was stalling.

The Cabinet Office said output in Asia’s second-largest economy declined by 1.4 percent in annualized, price-adjusted terms. Most sectors — from consumption and housing investment to exports — deteriorated.

Also read: Economy: Jobless claims drop to lowest since 1973; housing starts jump 11%

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