Japan's GDP falls at 2.3 percent pace in 4Q

TOKYO (AP) -- The government says Japan's economy has shrunk at an annual pace of 2.3 percent in the fourth quarter.

Compared to the previous quarter, the October-December gross domestic product fell 0.6 percent, the Cabinet office said Monday.

The contraction in GDP, or the value of goods and services produced within the country, comes after a 1.7 percent quarter-on-quarter rise in the July-September quarter.