April-June real GDP falls annualized 6.8% (Japan)

``Japan's economy shrank in the April-June period at its fastest pace in 13 quarters, as personal consumption tumbled following the April 1 consumption tax increase from 5 percent to 8 percent, government data showed Wednesday... The decline was the steepest since the 6.9 percent drop in GDP seen in January-March 2011, which reflected the aftermath of the magnitude-9.0 earthquake and tsunami that struck the country's northeast on March 11 that year.'' -- Heckuva job, Abie...