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Japan’s Economy To Shrink Through June, Bank Of Japan Says

(Reuters) – Bank of Japan Governor Masaaki Shirakawa said the country’s economy will likely shrink in the first half of 2011 due mainly to stalled output in the wake of Japan’s March 11 earthquake and tsunami, the Wall Street Journal reporte…

(Reuters) – Bank of Japan Governor Masaaki Shirakawa said the country’s economy will likely shrink in the first half of 2011 due mainly to stalled output in the wake of Japan’s March 11 earthquake and tsunami, the Wall Street Journal reported on Saturday.

“We are now expecting production and GDP will decline in the first quarter and the second quarter,” Shirakawa said in the interview conducted on Friday, echoing the views of most private-sector economists who also see a first half contraction.

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