Japan s nominal GDP fell out of the top three in the world for two consecutive quarters of contracti

Mondo Finance Updated on 2024-02-15

According to the preliminary statistical results released by the Cabinet Office of Japan on the 15th local time, Japan's real gross domestic product (GDP) will increase by 1 year-on-year in 20239%, and the nominal growth rate of GDP reflecting prices** is 57%。Japan's nominal GDP fell from third to fourth place in the world, and was overtaken by Germany.

According to the report released by Japan** on Thursday (February 15), GDP contracted by 04%, compared to a revised contraction of 33%。

Japan's gross domestic product (GDP) unexpectedly contracted for the second consecutive quarter in the fourth quarter of last year, signaling a recession, clouding the prospects for the Bank of Japan to end its negative interest rate policy.

Weaker-than-expected Japanese economic data will complicate the prospects for the Bank of Japan to exit its negative interest rate policy. A survey of economists last month showed that most respondents expect the Bank of Japan to raise interest rates in April for the first time since 2007.

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