Japan GDP Shrinks — Again

155329593Economic data issued by the Japanese government proved what many economists have feared. Japan, the world's third largest nation by GDP, has gone into a recession, joining the largest area by GDP-the Eurozone. Add this to America, where growth has been barely 2%, and almost the entire developed world continues to struggle mightily.

The Japan Cabinet Office issued fourth quarter figures which showed a GDP drop of 0.1% compared to the third quarter, and 0.4% on an annual basis.

In a summary and translation of that announcement, MarketWatch reporters wrote:

Japan's economy chalked up a third quarter of contraction in the
October-December period, the Cabinet Office reported Thursday, with gross
domestic product shrinking 0.1%, or a drop of 0.4% on an annualized basis. The
result confounded expectations for a 0.1% rise in GDP, according to separate Dow
Jones Newswires and Reuters surveys. Still, the contraction was smaller than the
3.5% annualized fall in July-September. Nikkei Stock Average futures pared their
gains in premarket trade in Singapore after the data, though the Japanese yen
showed muted reaction.


Filed under: 24/7 Wall St. Wire, International Markets
Read Full Story

Markets

DJIA 21,674.51 -76.22 -0.35%
NASDAQ 6,216.53 -5.39 -0.09%
S&P 500 2,425.55 -4.46 -0.18%
NIKKEI 225 19,470.41 -232.22 -1.18%
HANG SENG 27,047.57 -296.65 -1.08%
DAX 12,165.19 -38.27 -0.31%
USD (per EUR) 1.18 0.00 0.01%
USD (per CHF) 0.96 0.00 0.02%
JPY (per USD) 109.21 0.01 0.00%
GBP (per USD) 1.29 0.00 0.01%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.