Surprisingly, the Japanese economy enters a technical recession, with domestic consumption continuing to remain weak.
In the period between October and December, GDP recorded a contraction of 0.1%, from -0.7% in the previous quarter, and well below the expectations of analysts, who expected an increase of 0.4%.
On a trend basis, gross domestic product saw a decline of 0.4%.
Based on today's data, the Land of the Rising Sun gives up the third step of the podium on a global scale and sees itself overtaken by Germany, which becomes the third largest economy in the world behind the United States and China.
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