Japan Economy Contracts as Consumers, Businesses Cut Spending
Japan’s economy contracted in the first quarter, with gross domestic product shrinking at an annualized pace of 2%, as consumers and companies reduced spending. The weak results come with the Bank of Japan looking closely at data to determine when it should next raise interest rates after it conducted its first hike in 17 years in March. Brian Fowler reports on Bloomberg Television.
You can find out more on this story here: https://www.bloomberg.com/news/articles/2024-05-15/japan-s-economy-contracts-as-consumers-companies-cut-spending?srnd=homepage-asia
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