Japan heads towards recession

JAPAN - Japan's battered economy has tipped yet closer to recession, as new figures show it contracted 0.8% in the second quarter of the year.

The figure translates to a slippage of 3.2% in gross domestic product (GDP) in the year to June.

The government admitted that the economy has been hit across the board, with public and private sector, housing investment and exports all falling. Only consumer spending managed a slight uptick.

With little sign of improvement in the short term, most observ

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