Japan Economy Shrinks More Than Expected, Supporting BOJ Easing

11/15/2023 09:05
Japan Economy Shrinks More Than Expected, Supporting BOJ Easing

Japan’s economy slipped back into reverse over the summer, pointing to the fragility of the country’s recovery and backing the case for continued Bank of Japan easing and the government’s recent economic package.

Japan’s economy slipped back into reverse over the summer, pointing to the fragility of the country’s recovery and backing the case for continued Bank of Japan easing and the government’s recent economic package.

Gross domestic product shrank at an annualized pace of 2.1% in the third quarter, largely on the back of falling business spending and higher imports that dragged on the economy, the Cabinet Office reported Wednesday.

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