Japanese policymakers on Friday braced for a sharp contraction in October-December growth and warned of the hit to output and consumption from the coronavirus outbreak, signaling alarm over a darkening outlook for the world’s third-largest economy. Bank of Japan Executive Director Eiji Maeda said gross domestic product (GDP) may have suffered a “big contraction” in the final quarter of last year due to sluggish overseas demand and damage to consumption from last year’s sales tax hike. “Japan’s economy is expected to continue expanding moderately as a trend,” thanks to robust capital expenditure and government ... (full story)