According to the revised official data, the Japan’s gross domestic product (GDP) grew by 0.4% in the fourth quarter of 2023 compared to the same period in the previous year.
According to this revision, the economy avoided a technical recession, which is usually defined as two successive quarters of negative growth.
On Monday 11th March 2024, Japan’s Cabinet Office released figures that indicated a 0.3% decline in private consumption for the quarter. Private consumption accounts for about 60% of the economy.
Nevertheless, the updated figures fell short of expectations, as some economists had predicted a higher revision in Q4.
Nikkei 225 pulls back from recent highs
