Home / news / Japan suffers worst economic slump in five years – Japan has suffered its worst quarterly GDP contraction in more than five years, with a tax hike and a deadly typhoon taking a toll on the world’s third-largest economy.

Japan suffers worst economic slump in five years – Japan has suffered its worst quarterly GDP contraction in more than five years, with a tax hike and a deadly typhoon taking a toll on the world’s third-largest economy.

Japan suffers worst economic slump in five years – Japan has suffered its worst quarterly GDP contraction in more than five years, with a tax hike and a deadly typhoon taking a toll on the world’s third-largest economy.

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3 comments

  1. I never actually knew japan was the 3rd largest economy

  2. 2008 crash ill be small compared to 2020

  3. This is the best tl;dr I could make, [original](https://unseenjapan.com/japan-suffers-worst-economic-slump-in-five-years/) reduced by 87%. (I’m a bot)
    *****
    > The quarter was marked by a rise in consumption tax from eight percent to 10 percent, as well as Typhoon Hagibis, which killed more than 100 people and caused widespread flooding.

    > That quarter followed a hike in the sales tax from five percent to eight percent and the latest slump also appears to have been affected by a rise in consumption tax to 10 percent that came into effect on October 1.

    > Private consumption was hard hit, dropping by 2.9 percent – the first fall in five quarters.

    *****
    [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/f53juo/japan_suffers_worst_economic_slump_in_five_years/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ “Version 2.02, ~469125 tl;drs so far.”) | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr “PM’s and comments are monitored, constructive feedback is welcome.”) | *Top* *keywords*: **percent**^#1 **quarter**^#2 **consumption**^#3 **tax**^#4 **Japan**^#5

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