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Benzinga
  • 2 years ago
Japan reported two consecutive quarters of GDP contraction in Q3 and Q4 2023, meeting the technical definition of a recession, pushing its economy to shrink in size. For 2023 as a whole, Japan's nominal GDP grew 5.7% to $4.2 trillion, while Germany's grew 6.3% to $4.46 trillion, surpassing Japan as the world's third-largest economy. The GDP contraction was a surprise that missed analyst forecasts of 1.4% growth and highlights Japan's economic struggles amid global headwinds. Japan has fallen from being the second-largest economy globally.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 Japan reported two consecutive quarters of GDP contraction in Q3 and Q4 2023,
00:08 meeting the technical definition of a recession pushing its economy to shrink in size.
00:12 For 2023 as a whole, Japan's nominal GDP grew 5.7% to $4.2 trillion, while Germany's grew 6.3%
00:21 to $4.46 trillion, surpassing Japan as the world's third largest economy.
00:27 The GDP contraction was a surprise that missed analysts' forecast of 1.4% growth
00:32 and highlights Japan's economic struggles amid global headwinds.
00:36 Japan has fallen for being the second largest economy globally.
00:39 Its recession underscores challenges for policy makers seeking to boost
00:43 domestic demand and inflation. For all things money visit Benzinga.com
00:47 Ciao.
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