Japan’s GDP fell an annualised 6.3% in the October-December period, and declined 1.6% compared to the prior quarter, according to preliminary data released by the government on Feb. 17.
Private consumption, which makes up more than half of the economy, dropped 2.9% quarter-on-quarter, as households curbed spending after a sales tax hike in October last year. Capital expenditure retreated 3.7%.
Source: Financial Digest (financialdigest.net)
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