• Bloomberg

  • SHARE

The economy took another battering from the consumption tax increase in the last quarter, contracting by the most in more than five years and fueling recession concerns as the widening coronavirus outbreak hits activity.

Gross domestic product shrank at an annualized pace of 6.3 percent from the previous quarter in the three months through December, according to a preliminary estimate by the Cabinet Office released Monday.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)