19 May 11
Japan returns to recession →
Japan’s economy shrank by almost double the margin economists had expected, as the country returned to recession with a second consecutive quarter of contraction.
The gross domestic product contracted by 0.9% during the January-March quarter, marking a 3.7% year-on-year drop, the Cabinet Office reported Thursday.
Note that the March 11 earthquake was near the end of the period. Things are going to be tough for the next quarter as well.
