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World|business|November 14, 2018 / 10:49 AM
Natural disasters hit Japan's economy

AKIPRESS.COM - Japan's economy shrank in the third quarter as natural disasters hit spending and disrupted exports, BBC reports.

The economy contracted by an annualised 1.2% between July and September, preliminary figures showed.

A devastating earthquake and typhoon were among the disasters to hit Japan this year, and prompted the bigger than expected contraction.

The slowdown also comes as the US and China fight a trade war which risks hurting global trade and growth.

Exports fell 1.8% from the previous quarter, the fastest decline in more than three years.

Japan was hit by several natural disasters over its summer, including one of the country's worst flooding disasters in decades, an earthquake and a deadly typhoon.

The disasters disrupted factories and hit domestic spending.

Rising trade tensions and protectionism could be a drag on future growth.

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