Japan unexpectedly slips into a recession
Posted on AllSides February 15th, 2024
From The Center
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The country's gross domestic product (GDP) contracted by a worse-than-expected 0.4% in the last three months of 2023, compared to a year earlier.
It came after the economy shrank by 3.3% in the previous quarter.
The figures from Japan's Cabinet Office also indicate that the country has lost its position as the world's third-largest economy to Germany.
Economists had expected the new data to show that Japan's GDP grew by more than 1% in the fourth quarter of last year.
The latest figures were the first reading of Japan's economic...