Japan's economy has slipped into recession after the triple blow of the March tsunami, earthquake and nuclear crisis. Economists fear that recovery will be slow as the country battles with power shortages and the continuing nuclear crisis.
REUTERS - Japan’s economy shrank much more than expected in the first quarter and slipped into recession after the triple blow of the March earthquake, tsunami and nuclear crisis hit business and consumer spending and tore apart supply chains.
The negative surprise came as inventories fell and imports jumped following losses in factory output. Still, economists expect the BOJ to keep monetary policy steady when it ends a two-day meeting on Friday while declaring readiness to ease further if the quake’s impact proves more lasting that thought.
Date created : 2011-05-19