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Economy

Japan's GDP down 1.2% in February: JCER

Sluggish exports to China and US behind contraction

Containers line the Oi terminal at the Port of Tokyo. (Photo by Arisa Moriyama)

TOKYO -- Japan's real gross domestic product shrank 1.2% from the prior month in February, according to data released on Wednesday by the Japan Center for Economic Research.

Seasonally adjusted GDP dipped to 526.35 trillion yen ($4.78 trillion) on an annualized basis, JCER said, marking a fourth straight month of contraction.

Weak exports to China, which had its Lunar New Year holidays in February, and to the U.S., which experienced a slump in economic activity due to cold weather, were partly responsible for Japan's GDP decline.

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