• Kyodo

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A domestic survey of 106 major companies has found that 100 expect the economy to expand toward year-end, and that 76 do not oppose the government’s plan to complete the doubling of the sales tax to 10 percent in 2015, a poll says.

Although the economy plunged in the April-June quarter after the 3-point consumption tax hike to 8 percent on April 1, 92 of the companies polled said they believe the slump in consumer spending will dissipate by the end of the year.

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