Japan's economy suffered its worst contraction since 2011 in the second quarter as the threat of higher tax payments put consumers off major purchases.
Gross domestic product shrunk by an annualized 6.8% in the three months ended June, Japan's Cabinet Office said Wednesday. The result was actually better than the 7% contraction expected by economists.
Japan GDP growth collapses amid sales tax shock - Aug. 12, 2014
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