TOKYO, Feb 14 (Reuters) - Japan’s economy shrank 0.1 percent in October-December from the previous quarter, falling for a third straight quarter, government data showed on Thursday, in a sign the nation is struggling to escape from a mild recession.
The decline compared with a 0.1 percent expansion that was forecast by economists, and followed a revised 1.0 percent contraction in July-September.
Japan’s gross domestic product (GDP) figure translated into an annualised decline of 0.4 percent, compared with a median forecast from economists of a 0.5 percent rise and a 0.1 percent fall in the United States in the same quarter.
“Japan’s economy may show some weakness for the time being. But it is likely to resume a moderate recovery thereafter due to the Bank of Japan’s monetary easing, the effect of an emergency economic package, as well as an expected moderate recovery in the global economy,” Economics Minister Akira Amari said in a statement.
To view the full tables, go to the Cabinet Office’s website