According to data published in Japan, the Japanese economy entered recession in the fourth quarter of 2023. Web site Japanese Statistical Service. This is the first time this has happened in the last five years.
A technical recession is when a country’s GDP declines for two consecutive quarters. The decrease in Japan’s real GDP in July – September was 0.8% compared to the previous quarter, and in October – December it was 0.1%.
Similar periods of recession were recorded in the country in 2001, 2008-2009, 2012 and 2018.
As a result, Japan was replaced by Germany as the world’s third economy. At the end of last year, Japan’s GDP reached $4.21 trillion in dollar terms, and Germany’s reached $4.46 trillion.
Last week, Indian Prime Minister Narendra Modi statedHe said that his country will grow to become the third largest economy in the world in the near future. Today, India ranks fifth.
India for the first time in January ahead Hong Kong by stock market capitalization.
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At the beginning of the US-China race to become the world’s number one economy dead “Turn of Destiny”