Economy

Demeter

(85,373 posts)

19. Japan’s GDP shrinks 2.3% in fourth quarter

Mon Feb 13, 2012, 09:49 AM

Feb 2012

Japan’s economy shrank for the third time in four quarters between October and December, after floods in Thailand damaged production and a strong yen and subdued overseas demand hurt exports.

Government figures on Monday showed that real gross domestic product fell an annualised 2.3 per cent in the fourth quarter, much worse than consensus forecasts of a 1.3 per cent decline. On a quarter-on-quarter basis, output fell by 0.6 per cent, dragged down by exports – which fell 3.1 per cent – following a 1.7 per cent rise in the third quarter.

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http://link.ft.com/r/2SRI11/AMF8JT/VTVRG/L9U9LA/XH4I9Q/SN/t?a1=2012&a2=2&a3=13

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