AlQa'dah 02, 1436, August 17, 2015, SPA -- The Japanese economy shrank at an annualized rate of 1.6 per cent in the April-to-June period for the first contraction in three quarters, the government said Monday, despite the government's huge injections of liquidity, dpa reported. The figure was slightly better than the 1.9-per-cent contraction forecast in a poll of economists by the Nikkei business daily. Economic Revitalization Minister Akira Amari blamed the contraction on weaker exports and slumping consumption. "It will be important to carry out policies to make domestic demand stronger," Amari said. He also said he was "not optimistic" about exports to China, Japan's biggest trading partner. Exports fell 4.4 per cent for the first contraction in six quarters amid slow growth in China and other emerging economies, the Cabinet Office said in a preliminary report. Private consumption, which makes up 60 per cent of output, fell 0.8 per cent, while corporate investment edged down 0.1 per cent, the office said.
