Japan's economy shrinks 12.7 per cent in recent quarter

Business Materials 16 February 2009 04:57 (UTC +04:00)

Japan's economy shrank drastically in the most recent quarter at an annualized rate of 12.7 per cent, the hardest drop in 35 years, dpa reported.

The government released the information as part of its estimate of Gross Domestic Product (GDP) growth between October and December 2008.