Posted 2/15/2024, 8:15:00 AM
Japan Enters Recession as Weak Spending Overshadows Export Gains
- Japan's economy contracted 0.4% in Q4 2023, falling into recession after GDP shrank in previous quarter
- Weak domestic consumption was main factor, with consumer spending and private investment declining
- Exports rose over 11% aided by weak yen, providing some positive contribution
- Despite recession, investor sentiment remains strong with Nikkei index hitting over 38,000
- Analysts expect economy to rebound in Q1 2024 on stabilization of inflation and wage growth
