Japan unexpectedly slips into a recession - BBC News

The figures also indicate that Japan has also lost its position as the world's third-largest economy.

12 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, EPA-EFE/REX/ShutterstockBy Mariko OiBusiness reporterJapan has unexpectedly fallen into a recession after its economy shrank for two quarters in a row.

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.

https://www.bbc.co.uk/news/business-68302226

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