Japan's Economy Set to Shrink in Second Quarter, Top Forecaster Says

Japan’s economy is set to contract in the current quarter following growth that was better than first estimated in the first three months of the year, according to one of the country’s top economic forecasters.

Gross domestic product is likely to shrink by 0.5% in the second quarter, Yoshiki Shinke, chief economist at Dai-Ichi Life Research, said in a note, adding that the economy was currently in poor shape despite the expansion at the start of the year.