Japan slides back into recession after quake

Japans economy plunged back into recession in January-March,contracting sharply on the impact of the nations biggest recorded earthquake,a tsunami and a nuclear crisis,data showed Thursday. Gross domestic product fell 0.9 percent in the first quarter compared with the previous three months,and marked the second consecutive quarter of contraction,which economists define as a technical recession. The drop was equivalent to a 3.7 percent fall on an annualised basis. In the aftermath of the disasters,industrial output saw its biggest ever fall and spending plunged as consumer and business confidence took a tumble.

Many analysts see the downturn worsening in April-June,as nationwide supply chain problems in the wake of the quake continue to disrupt production and the threat of power supply disruption prevails.