CRI听力:Japanese Economy Contracts Sharply

New stats show the Japanese economy has contracted nearly 7-percent through the second quarter.

The 6.8-percent decline in Japan's Gross Domestic Product is in sharp contrast to the 6.1-percent growth seen through the first quarter.

While dramatic, the downturn is not unexpected, as many in Japan front-loaded purchases ahead of the sales-tax increase in April.

Japan's Economy Minister Akira Amari is calling on the markets to look at the overall direction of the economy.

"I think it is important to look at the economic trend as a whole and not be carried away with the fluctuations of a spike due to last-minute demand and the subsequent reactionary downturn which an increase in sales tax will bring".

As part of Prime Minister Shinzo Abe's current economic plans, the government is attempting to expand the money supply and reverse some 2-decades worth of deflation.

However, concerns about Japan's overall debt has forced the government to raise the sales tax from 5-percent to 8 this year, with another tax hike likely next year.