Business News
Japan economy contracts at annualized 2.3 per cent in past quarter
Feb 13, 2012, 0:23 GMT
Tokyo - Japan's economy shrank at an annualized pace of 2.3 per cent in the October-December quarter, caused by the temporary effects of massive flooding in Thailand, the government said Monday.
The nation's gross domestic product (GDP) figure for the quarter fell 0.6 per cent from the previous quarter, the Cabinet Office said in a preliminary report.
The flooding in Thailand in late 2011 disrupted Japanese manufacturers' production.
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