Japan on brink of recession as economy contracts, virus heightens risk

TOKYO - Japan’s economy shrank at the fastest pace in almost six years in the December quarter as a sales tax hike hit consumer and business spending, raising the risk of a recession as China’s coronavirus outbreak chills global activity.

“There’s a pretty good chance the economy will suffer another contraction in January-March. The virus will mainly hit inbound tourism and exports, but could also weigh on domestic consumption quite a lot,” said Taro Saito, executive research fellow at NLI Research Institute. Japan’s gross domestic product shrank an annualized 6.3% in the October-December period, government data showed on Monday, much faster than a median market forecast for a 3.7% drop and the first decline in five quarters.

The weak data also comes amid signs of struggle in the wider region with the coronavirus, leaving Japan vulnerable to a recession - defined as two consecutive quarters of contraction.Singapore cut its economic growth projections for 2020, Thailand posted its slowest expansion in five years and China’s home prices rose at their weakest pace in almost two years.down 0.7%.

Not do nit blame tha virus . The Economy has been suffering fir a while and the World economy has shrank

Let’s hope it’s all clear by the Olympics....

.... little black swans everywhere

Japan. No love, no sex, no immigration, no kids = no future. Racist Fools

It may become global. Help us Lord.

This China Wuhan coronavirus pneumonia is incurable we should notify, even when the symptoms are gone, the virus is still active in body defense system and keep infecting. That's why China's disguising the true data of contagion.

All it took was a small particle ... later identified as the corona virus disease! Even the great Japan succumbs to a natural (?) phenomena... we should be more humble ... take note America fighting with China does nothing to enhance trade... self defeating

US global trade war hits Japan and Singapore and Hong Kong.

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