The Japanese economy shrank an annualized real 6.8% in the April to June quarter, falling at its fastest pace since the March 2011 disaster, apparently due to the consumption tax hike on April 1, the government said Wednesday.
The growth in the April-June inflation-adjusted gross domestic product corresponds to a 1.7% contraction from the previous quarter, according to (Kyodo) news agency.
GDP is the total value of goods and services produced domestically.