CONTRACTING ECONOMY: Japan's economy shrank at an annual pace of 2.3 percent in the fourth quarter as manufacturers were battered by the strong yen, weak demand for exports and flooding in Thailand, which disrupted production.
EVEN WORSE THAN THOUGHT: The contraction in the nation's gross domestic product was larger than expected. Economists polled by Kyodo News agency had expected a 1.4 percent decline.
FUTURE UNCLEAR: The outlook for Japan's vital exporters remains unclear because of weak demand in Europe, which is battling a debt crisis, said Masayuki Kichikawa, chief Japan economist at Bank of America Merrill Lynch.
There are no comments yet