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Economy

Japan's GDP down 0.5% in December: JCER

Slower consumption, housing investment contribute to first drop in four months

TOKYO -- Japan's real gross domestic product contracted 0.5% on the month in December, falling for the first time in four months, the Japan Center for Economic Research said Wednesday.

Consumer spending slid 0.2%, while residential investment dropped 2.1% as housing starts declined. Capital spending shrank 0.6% amid sluggish demand for general machinery and data transmission equipment. Exports sank 1.7%.

(Nikkei)

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