For the first time in 2 years the economy of Japan shrinks ending the streak of economic growth since the 80s.
The world's third biggest economy shrinked at an annualized rate of 0.6%. For the first time since the 80s the economy of Japan is shrinking.
Private consumption and capital expenditure slowed down during the months January till March, which analysts said shrunk the economy.
Private consumption's count for over 60% of the economic activity but Japan also heavily relies on the export, with one of it's main export products being electronics.
Because of a global slowdown of the purchases of electronics and because of bad weather the export in these goods crumbled down.
But, Japan will start to grow again says analysts because the global economy is also growing, therefore the export of Japan will also grow and inland consumption's will stop contracting.