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Economy

Japan set for deep recession after coronavirus emergency declared

Economists see annualized double-digit Q2 slide followed by slow rebound

A woman walks past a shuttered Isetan department store in Tokyo's Shinjuku district on Wednesday. (Photo by Kei Higuchi)

TOKYO -- The declaration of a state of emergency in Japan has prompted economists to slash forecasts for three months from April to June.

Analysts from domestic and international banks now all expect an annualized double-digit contraction in the second quarter, before the Japanese economy returns to a precrisis level.

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