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Japan's economy shrinks

Source : IANS
Last Updated: Thu, Feb 14, 2013 06:30 hrs

Tokyo, Feb 14 (IANS) Japanese economy dropped 0.4 percent in the final quarter of 2012, the third straight quarterly contraction on weak exports and business investment, the government data showed Thursday.

The fall in the October-December inflation-adjusted gross domestic product corresponds to a 0.1 percent decline from the previous quarter against the average projection of 0.2 percent gain, reported Xinhua.

In 2012, the country's real GDP -- the total value of goods and services produced domestically -- rose 1.9 percent from 2011, posting the first growth in two years.

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