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article imageJapan economy contracted 7.1 percent in Q2

By Dave Albin     Sep 8, 2014 in Business
Preliminary estimates of the economic situation in Japan have been revised further down, despite extraordinary attempts to stimulate the economy.
The economy of Japan contracted 7.1 percent in the second quarter of 2014 (April to June), revised down further from an initial estimate of 6.8 percent.
The decline reflects a change in GDP compared to the previous quarter, and was due to less-than-anticipated capital spending by businesses.
The gross domestic product, or GDP, is a measure of the monetary value of finished goods and services within a particular country, and during a particular period of time. Changes in GDP over time are used to measure the economic health of a country.
This despite aggressive measures to stimulate the economy in Japan, including trillions of yen pumped into the economy for a host of projects, including infrastructure, clean energy and child care.
As a result, Japan has the greatest government debt burden of any country in the world. The question of what happens next remains to be answered, but a further increase in sales taxes, to help balance the government debt, is expected in 2015.
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