Japan's GDP shrinks 1.1% in last quarter 2010

• Source: Xinhua
• [08:44 February 14 2011]
• Comments

Japan's economy shrank an annualized real 1.1 percent in the fourth quarter of 2010, marking the first contraction in five quarters, the Cabinet Office said Monday.

The October-December period figure, measured by gross domestic product, means a 0.3 percent fall from the previous three-month period.

The figures beat forecasts of an annualized 2.2 percent contraction and 0.6 percent quarterly decline in a Kyodo News survey.

Japan's real GDP grew 3.9 percent in 2010.