Japan Sinks Into Recession In Q4

Japan’s gross domestic product contracted by a seasonally adjusted 0.1 percent on quarter in the fourth quarter of 2023, the Cabinet Office said on Thursday.

That missed expectations for an increase of 0.2 percent following the downwardly revised 0.8 percent decline in the third quarter (originally -0.7 percent).

On an annualized basis, GDP slipped 0.4 percent following the downwardly revised 3.3 percent drop in the three months prior (originally -2.9 percent).

Capital expenditure fell 0.1 percent on quarter after slipping 0.6 in Q3, while external demand rose 0.2 percent after easing 0.1 percent in the previous three months.

The GDP price index was up 3.8 percent on year, down from 5.8 percent – while private consumption was down 0.2 percent on quarter after slipping 0.3 percent in the third quarter..