Japan's economy likely shrank 2.5% in April to June from the prior quarter, exceeding the preliminary reading of a 1.3% contraction, revised figures due to be released next week are likely to show, according to research released Friday by Barclays Capital.
The bank said it came up with the estimate after assessing grim corporate-survey data that showed Japanese companies suffered severe conditions in the aftermath of March earthquake and tsunami.
The survey of Japanese corporations indicated capital expenditure excluding software contracted 7.8% in the quarter, versus Barclays' expectations for a 0.1% rise.
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