On Thursday, the Cabinet Office reported that Japan's Gross Domestic Product (GDP) shrank by a seasonally modified 0.1 percent in the final quarter of 2023. This result was not up to the projected growth of 0.2 percent, a drop from the revised lower 0.8 percent downfall in the preceding quarter, previously estimated at a decrease of 0.7 percent.
In annual terms, GDP went down 0.4 percent subsequent to the revised 3.3 percent decrease in the past three months, initially reported as a decrease of 2.9 percent.
In the fourth quarter, capital expenditure fell 0.1 percent, following a 0.6 percent decline in the third quarter. However, external demand increased 0.2 percent, rebounding from the 0.1 percent dip in the quarter before.
As for the GDP price index, it increased 3.8 percent annually, a decrease from the previous 5.8 percent. Meanwhile, private consumption declined 0.2 percent in the fourth quarter, following a decline of 0.3 percent in the third quarter.
