• Kyodo

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Japan’s economy is expected to shrink this year because of the strong yen and Europe’s debt crisis but rebound by a real 2.2 percent in fiscal 2012, the government said in a downgrade of its economic forecasts Thursday.

The Cabinet of Prime Minister Yoshihiko Noda approved the revised estimates while projecting Japan would log a trade deficit for fiscal 2011, see employment rates stay above 4 percent, and watch consumer prices turn positive in the next business year.

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