Economy

Japan Falls to Fourth-Largest Economy Amid Unexpected Recession

YEN-BASED
"Japan has slipped into a recession, leading to the loss of its position as the world's third-largest economy-a title now held by Germany. This shift comes as Japan's Gross Domestic Product (GDP) shrank at an annualized pace of 0.4% in the final quarter of 2023, as reported by the Cabinet Office.
Sharp Decline in January US Retail Sales Signals Economic Caution
Retail shops in Brooklyn as phase one reopening continues during outbreak of the coronavirus disease (COVID-19) in New York
The 0.8% decrease in consumer spending, adjusted for seasonal factors but not inflation, surpassed economists' predictions, who had anticipated a more modest decline of 0.3%. This downturn follows a revised gain of 0.4% in December, suggesting a potential shift in consumer behavior at the outset of the year.

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