(MENAFN) Data showed that Japan's economy shrank more than initially reported in the third quarter, dragged down by declines in business investment, The Peninsula Qatar reported.
The revision to an annualized 1.9 percent contraction from a preliminary 1.6 percent fall confirmed Japan slipped into recession.
The hit from an April sales tax hike turned out to be bigger than expected, underscoring the challenges Abe and the Bank of Japan face in pulling the world's third-largest economy sustainably out of deflation.
"The harsh evidence for Abenomics, shows that tame growth in wages in particular is likely to drag on private consumption and broader economic activity," chief economist at Norinchukin Research Institute said.
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