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Dismal figures show Japan closer to recession

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Dismal figures show Japan closer to recession

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Japan’s quarterly figures show the country slipping further toward recession. The world’s second-largest economy lost, on a yearly rate, 3 percent of output between April and June with domestic demand and exports on the wane. That represents the biggest decline for seven years.

Growth this quarter, if any, is expected to be weak.

Japan’s government has urged companies to boost wages to help employees fight price rises.