Japan Slips Into Recession Again As Demographic and Economic Headwinds Persist
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Japan's economy shrank for the second straight quarter, indicating it's in recession. Its economy is now the world's fourth largest behind the U.S., China, and Germany.
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Japan faces long-term economic challenges like an aging workforce and declining birth rate.
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Its GDP contracted 0.4% in Q4 2023, after a 2.9% drop in Q3. For the full year 2023, GDP grew 1.9%.
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Weakness in private consumption and business investment were drags on economic growth.
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The weak yen, resulting from the Bank of Japan's ultra-loose monetary policy, has hurt the economy.