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Japan
Publication year - 2014
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/1468-0319.12108
Subject(s) - economics , consumption (sociology) , investment (military) , fell , real gross domestic product , agricultural economics , monetary economics , geography , art , political science , aesthetics , cartography , politics , law
Data from Q2 point to a steep fall in GDP after April's consumption tax rise. The composite PMI was in contraction territory in April and May, and only just recovered to the 50 mark in June. Official data for retail sales and industrial output similarly show that spending and production were cut back in Q2. We estimate that GDP fell by 1.5% in Q2, driven by a reversal of Q1's strength in consumption and investment…