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Article: Japan suffers a relapse.(Business)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- March 14, 2000
- Author:
CopyrightCOPYRIGHT 2000 News World Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Japan's economy fell back into recession at the end of last year, dropping at a surprisingly fast 5.5 percent annual rate in news that triggered stock market dives around the world.
Tokyo's Economic Planning Agency sought to cushion the news of Japan's two quarters of economic contraction - technically, a double-dip recession - with a prediction that prospects are improving somewhat this year. Analysts say that is largely due to another injection of government spending of 6.5 trillion yen ($614.5 billion) on public works projects.
While Japan-watchers knew the world's second-largest economy was struggling to regain growth after experiencing its worst ...