Japan's economy slips into recession on weak domestic demand

Record ID: 1766939

  • Title: Japan's economy slips into recession on weak domestic demand
  • Date: 15th February 2024
  • Summary: TOKYO, JAPAN (FILE - JUNE 6, 2023) (REUTERS) VARIOUS OF PEOPLE WALKING ACROSS SHIBUYA CROSSING TOKYO, JAPAN (FILE - JUNE 16, 2023) (REUTERS) VARIOUS OF PEOPLE WALKING PAST ELECTRONICS STORE CUSTOMERS BROWSING SHOP WORKER STACKING SHELF BUILDINGS IN SHIBUYA VARIOUS OF PEOPLE WALKING HOLDING SHOPPING BAGS PEOPLE WALKING ON SHIBUYA STREET TOKYO, JAPAN (FILE - JUNE 13, 2023) (
  • Embargoed: 29th February 2024 00:51
  • Keywords: GDP Japan economy gross domestic product recession
  • Location: TOKYO, MORIYA, KAMINOKAWA, JAPAN
  • City: TOKYO, MORIYA, KAMINOKAWA, JAPAN
  • Country: Japan
  • Topics: Asia / Pacific,Economic Events
  • Reuters ID: LVA001035314022024RP1
  • Aspect Ratio: 16:9
  • Story Text: Japan's economy has slipped into a recession as it unexpectedly shrank for two straight quarters on weak domestic demand, raising uncertainty about the central bank's plans to exit its ultra-easy policy sometime this year.
    The weak performance saw Japan lose its title as the world's third-largest economy, replaced by Germany.
    Gross domestic product (GDP) fell an annualised 0.4% in the October-December period after a 3.3% slump in the previous quarter, government data showed on Thursday (February 15). The result compared with a median market forecast of a 1.4% increase.
    Two consecutive quarters of contraction are typically considered the definition of a recession.
    (Production: Chris Gallagher)
  • Copyright Holder: FILE REUTERS (CAN SELL)
  • Copyright Notice: (c) Copyright Thomson Reuters 2024. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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