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Japan eyes new stimulus as economy logs first slump in 6 years

Trade war squeezes exports and fuels recession fears

Many key economic indicators fell from February to March.   © Reuters

TOKYO -- With Japan's economy officially described as deteriorating for the first time in over six years, the government and ruling party are ramping up calls for further stimulus measures as the country gears up for an upper house election in the summer and a tax hike in the fall.

The Cabinet Office released a business condition index for March on Monday, with the assessment that economy is "worsening" -- the second-poorest showing out of five possible grades.

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