• Kyodo


The recovery from the March earthquake and tsunami is slowing because of the uncertainty prevailing over the global economy and a poor exchange rate for exporters, the Organization for Economic Cooperation and Development said Monday.

In its biannual outlook report, the OECD, the Paris-based club of rich nations, said Japan’s inflation-adjusted gross domestic product will shrink 0.3 percent in 2011 from 2010, altering its May forecast of a 0.9 percent contraction, due mainly to robust public and private-sector spending on reconstruction work following the March 11 disasters.

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