Japan Mulls Raising Definition of Elderly to 70 newsonjapan.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsonjapan.com Daily Mail and Mail on Sunday newspapers.
Japan's economy has entered a technical recession as GDP unexpectedly contracted by -0.1% qoq in Q4, much worse than expectation of 0.3% qoq growth. That also marked a continuation from -0.8% contraction seen in Q3. On annualized basis, the downturn was -0.4%, a stark contrast to the anticipated 1.4% growth and following -3.3% contraction in the previous quarter.
Japanese Yen recovers broadly in Asian session today, while Nikkei also soared to a new 34-year high, surpassing the 38k mark. The move came as a rather complex reactions to economic data showing that Japan unexpectedly slipping into recession. The surprised downturn also led to the country's demotion to the world's fourth-largest economy in 2023, with Germany ascending to third place.
Dollar Setback on Poor Retail Sales, Sterling Faces Recession Woes actionforex.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from actionforex.com Daily Mail and Mail on Sunday newspapers.