Japan's economy is expected to shrink 3.3 per cent over the coming year, marking its biggest decline in more than five decades, according to government predictions.
By Danielle Demetriou in Tokyo
Last Updated: 6:30AM BST 27 Apr 2009
The projected downturn for the forthcoming financial year would be the biggest slump since records began in 1955 as the world's second biggest economy continues to struggle with the global recession.
The exports-reliant economy has been hit hard by a continued drop in overseas demands for goods, making it increasingly vulnerable to turmoil in global financial markets.
The predicted decline for the coming financial year eclipses the 1.5 per cent contraction that hit the economy during the peak of Japan's "lost decade" of recession in 1998 and exceeds the government's earlier forecasts of zero growth. (more)
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