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Japan revises 4Q GDP to 12.1 percent contraction

Japan revises 4Q GDP to 12.1 percent contraction

Japan says its economy shrank at a 12.1 percent annual rate in the October-December quarter, slightly better than its initial reading.
The Cabinet Office's figure for Japan's gross domestic product compared with a preliminary estimate of a 12.7 percent annualized contraction.
On a quarterly basis, GDP dropped 3.2 percent, compared to an initial reading of a 3.3 percent decline.
Japan's economy, the world's second largest, has contracted for three straight quarters and is mired in its steepest downturn since the end of World War II.


Updated : 2021-07-24 07:00 GMT+08:00