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Japan’s economy shrinks as consumers hold back on spending

People walk past a department store in Tokyo, on Sept. 23, 2021. The Japanese economy has contracted at an annual rate of 1.2% in the July-September, 2022, quarter, as consumption declined amid rising prices. (AP Photo/Hiro Komae) FILE - Shoppers walk into a store at a shopping center in Tokyo on Aug. 17, 2020. The Japanese economy has contracted at an annual rate of 1.2% in the July-September quarter, as consumption declined amid rising prices. (AP Photo/Hiro Komae, File)