Japan GDP unexpectedly shrinks, loses spot as 3rd-largest economy

Nation slips behind Germany after second straight contraction

20240214 Japan GDP

Commuters seen around Tokyo Station on Jan. 16: Weak consumption and capital investment, along with higher saving, point to continued economic sluggishness in Japan. (Photo by Nanami Sato)

CHIHIRO ISHIKAWA, Nikkei staff writer

TOKYO -- Japan's gross domestic product unexpectedly shrank for a second straight quarter, confirming that the nation's economy has now slipped behind Germany to become the world's fourth largest.

Japan, Asia's second-biggest economy, contracted an annualized 0.4% in the October to December quarter from the previous three months, following a revised 3.3% fall in the July to September period.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.