TOKYO — Japan’s economy shrank at an annualized 0.7% in April versus the previous month due to sluggish domestic demand and an increase in imports, according to an estimate released by the Japan Center for Economic Research (JCER) on Wednesday.
The Nikkei-affiliated think tank said that if the economy remains at a similar level in May and June, real gross domestic product could fall by an annualized 4.2% in the April-June period compared to the preceding quarter.
