Abe to Revert to Economy After War Statement, Defense Fight
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After delivering a much-anticipated statement on Japan’s war legacy and engaging in a bruising legislative fight over defense laws, Prime Minister Shinzo Abe got a reminder on why he needs to return his focus to the economy.
With tepid wage growth making consumers unwilling to spend, the world’s third-biggest economy snapped two quarters of expansion to contract 1.6 percent in the three months through June, slightly better than the median forecast of a 1.8 percent fall.