Key Points
Japan narrowly avoided entering a technical recession in the second half of 2023 as the country revised economic data higher, reversing a quarterly contraction into positive growth, supporting the case for the central bank to end its negative interest rate policy this month or next..
The revised data showed Japans gross domestic product (GDP) expanded at an annualized pace of 0.4% in the October-December quarter, the Cabinet Office reported on Monday, better than the initial estimate for a 0.4% contraction..
This reversed an earlier preliminary estimate for a 0.1% contraction following negative growth of 0.8% in the third quarter..
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