05 Apr '11, 4am

Japan seen heading into recession: survey

TOKYO: The economic fallout from Japan's biggest ever recorded earthquake, a tsunami and a nuclear crisis will push the nation into recession in the coming months, a survey of economists said Tuesday. The triple disaster has lanced business confidence, reduced exports and discouraged consumer spending, the Nikkei business newspaper said after reviewing analysis from 11 major private economic institutions. Recovery is not expected until the July-September quarter, the Nikkei said. On average, the world's number three economy was seen shrinking 0.6 per cent in the January-March quarter from the previous three months, it said. For the following three months to June, the economy was seen contracting 2.6 per cent on average, with the most pessimistic economist expecting a 7.1 per cent drop, the daily said. "Most believe that personal consumption and exports will fall (in April-...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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