Recent economic indicators suggest that Japan might already be in recession, according to a think tank report released last week, as wages remain stagnant and consumer sentiment weak.
Gross domestic product (GDP) may have contracted 0.2% in the April-June quarter on an annualized basis adjusted for inflation, Mizuho Research & Technologies said in the report.
“Given consumer sentiment and wage trends, it's likely that consumption remained weak and dragged down the overall economy,” said Saisuke Sakai, chief economist at Mizuho Research & Technologies, who wrote the report.
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