Japan's economy rapidly declines in Q2

And turning now to the latest in Japan. The country's economy has suffered a major setback after experiencing its worst decline in three years. Paul, this marks a sharp turnaround,... especially after Prime Minister Shinzo Abe launched another stimulus package, last month. That's right. Also known as Abe's "third arrow"... it's is now being panned as a hit or miss by some market watchers... as they expected the economy to continue recovering at a moderate pace. G-D-P data released on Wednesday, showed the world's third-largest economy shrank 6-point-8 percent in the second quarter, which marks the lowest level since the 2011 Fukushima nuclear disaster. However, the figure did beat the government's forecast of a decline of 7-point-1 percent,... while the job market also experienced steady gains. The shortfall has prompted economists to lower their growth projections,... blaming the recent rate hike in the nation's sales tax... for hampering consumer spending. "The Bank of Japan's communication to the market, to make good on its commitment to reflate the economy, I think, is a much more important issue right now than these 'Third Arrow' reform issues which Abe's trying to get through the government." Economic Minister... Akira Amari says... Japan can still make a comeback, calling on investors to look at the overall direction of the economy, rather than reactionary fluctuations in the market. Analysts say Tokyo will likely need to explore further stimulus measures and reconsider plans to raise the sales tax even further,... unless growth picks up in the second half of this year.